Financial News: Italy Inflation Slows To 9.2% On Lower Energy

Italy Inflation Slows To 9.2% On Lower Energy Prices

03/02/2023 - 06:38:00 (RTTNews)

(RTTNews) - Italy's consumer price inflation eased further in February amid a slowdown in energy costs, latest figures from the statistical office ISTAT showed Thursday.

The consumer price index rose 9.2 percent year-on-year in February, slower than the 10.0 percent surge in January.

Meanwhile, core inflation that excludes prices of energy and unprocessed food climbed to 6.4 percent from 6.0 percent.

Prices of non-regulated energy products grew at a slower pace of 40.8 percent annually in February, after a 59.3 percent jump a month ago.

The decline in prices of regulated energy products was more intense in February, falling 16.7 percent versus 12.0 percent in January.

At the same time, the annual price growth of processed food, including alcohol, accelerated to 16.2 percent from 14.9 percent, and that of unprocessed food rose slightly to 8.4 percent from 8.0 percent.

Compared to the previous month, the CPI moved up 0.3 percent, driven mainly by the increase in prices of unprocessed food, processed food, durable goods and tobacco, among others.

The Italian harmonised index of consumer prices, or HICP, also rose at a slower pace of 9.9 percent year-on-year in February following a 10.7 percent increase in the prior month.

The EU measure of inflation increased 0.2 percent on a monthly basis in the middle of the first quarter.

Separate official data showed that the unemployment rate in the country rose marginally to 7.9 percent in January from 7.8 percent in December.

Data also showed that the employment rate edged up to 60.8 percent in February from 60.7 percent in the previous month.

The unemployment rate among young people aged between 15 and 24, increased to 22.9 percent in February from 22.2 percent a month ago.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

German GDP To Fall Slightly In Q1: Bundesbank (27 min(s), 17 sec(s) ago)
(RTTNews) - The German economy is likely to fall in the first quarter but the decline will be slow ...Full Story»

Major Central Banks Try To Stem Contagion After Credit Suisse Rescue (41 min(s), 17 sec(s) ago)
(RTTNews) - World's major central banks announced a joint effort to prevent the banking crisis ...Full Story»

UK House Prices Rise In March: Rightmove (56 min(s), 17 sec(s) ago)
(RTTNews) - After flattening in February, UK house prices increased in March due to a jump in the ...Full Story»

Eurozone Trade Gap Narrows In January (01 hr(s), 37 min(s), 17 sec(s) ago)
(RTTNews) - Euro area trade deficit narrowed at the start of the year as the pace of fall in impor ...Full Story»

Poland Industrial Output Contracts; Producer Price Inflation At 1-Year Low (02 hr(s), 11 min(s), 17 sec(s) ago)
(RTTNews) - Poland's industrial production declined for the first time in thirty-three months ...Full Story»

Taiwan Export Orders Continue To Fall In February (03 hr(s), 35 min(s), 17 sec(s) ago)
(RTTNews) - Taiwan's export orders continued to decline in February, data released by the Mini ...Full Story»

Germany Producer Price Inflation Eases To 15.8%, Lowest Since Sep 2021 (05 hr(s), 32 min(s), 17 sec(s) ago)
(RTTNews) - Germany's producer price inflation eased for the fifth straight month in February ...Full Story»

Malaysia Trade Surplus Shrinks To MYR 19.56 Bln (06 hr(s), 59 min(s), 17 sec(s) ago)
(RTTNews) - Malaysia's trade surplus decreased slightly in February, as imports grew faster th ...Full Story»