Financial News: Italy Inflation Accelerates In March

Italy Inflation Accelerates In March

03/29/2024 - 07:46:00 (RTTNews)

(RTTNews) - Italy's inflation accelerated in March but at a slower than expected pace, preliminary data from the statistical office ISTAT showed on Friday.

Consumer prices logged an annual increase of 1.3 percent in March after rising 0.8 percent in February. However, this was slightly weaker than the forecast of 1.4 percent.

Month-on-month, the consumer price index edged up 0.1 percent. Prices were expected to rise 0.2 percent.

Core inflation that excludes prices of energy and unprocessed food, climbed marginally to 2.4 percent from 2.3 percent a month ago.

Data showed that regulated energy product prices declined at a slower pace of 13.8 percent and that of non-regulated energy prices decreased 10.3 percent.

Inflation, based on the harmonized index of consumer prices, came in at 1.3 percent on year in March, faster than February's 0.8 percent rise. Economists had forecast an annual rate of 1.5 percent.

On month, the HICP moved up 1.2 percent after remaining flat a month ago. The index was expected to rise 1.4 percent.

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