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Financial News: Italy Inflation Accelerates More Than Expected In April

Italy Inflation Accelerates More Than Expected In April

04/28/2017 - 06:53:00 (RTTNews)

(RTTNews) - Italy's consumer price inflation accelerated at a faster-than-expected pace in April, preliminary figures from the statistical office Istat showed Friday.

The consumer price index rose 1.8 percent year-over-year in April, faster than the 1.4 percent climb in March. Economists had expected the inflation to rise to 1.6 percent.

Inflation was mainly driven by a 5.7 percent spike in prices of regulated energy products.

Excluding energy and unprocessed food, core inflation quickened to 1.0 percent in April from 0.7 percent in the prior month.

On a monthly basis, consumer prices went up 0.3 percent, just above the 0.2 percent increase economists had expected.

The EU measure of inflation, based on the Harmonized Index of Consumer Prices, climbed at an accelerated pace of 2.0 percent annually in April, following a 1.4 percent rise in March. The expected inflation rate was 1.6 percent.

Month-on-month, the HICP increased 0.8 percent in April, faster than the 0.5 percent gain expected by economists.

Separately, the statistical office revealed that producer prices rose 3.1 percent yearly in March, after a 3.3 percent climb in February. It was the fourth month of increase in a row.

Monthly, producer prices showed no variations from February, when it edged up by 0.3 percent.

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