Financial News: Italy Inflation Rises Less Than Estimated

Italy Inflation Rises Less Than Estimated

(RTTNews) - Italy's consumer price inflation increased slightly less than initially estimated in March to the highest level in one and a half years, the latest data from the statistical office showed on Wednesday.

Consumer price inflation accelerated to 1.9 percent in March from 1.6 percent in February. In the flash report, the rate of increase was 2.0 percent.

Further, this was the highest inflation rate since September 2023, when prices had risen 5.3 percent.

The upward trend in inflation was mainly due to a 0.7 percent rebound in costs for non-regulated energy products compared to a 1.9 percent fall in February.

The price growth in unprocessed food products quickened to 3.3 percent from 2.9 percent, and services related to communication rose 0.8 percent versus 0.5 percent in February. Meanwhile, inflation based on regulated energy products slowed to 27.3 percent from 31.4 percent.

Excluding energy and unprocessed food, core inflation was stable at 1.7 percent.

On a monthly basis, consumer prices moved up 0.3 percent in March, revised downward from 0.4 percent.

Inflation, based on the harmonized index of consumer prices, climbed at a faster rate of 2.1 percent in March after a 1.7 percent rise in February, as estimated. Monthly, the HICP rose 1.6 percent, mainly due to the end of the winter sales of clothing and footwear.

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