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Financial News: Italy Inflation Steady At 0.8% In February

Italy Inflation Steady At 0.8% In February

03/01/2024 - 07:35:00 (RTTNews)

(RTTNews) - Italy's consumer price inflation remained stable in February, after rising in the previous month, preliminary data from the statistical office, ISTAT, showed on Friday.

The consumer price index rose 0.8 percent year-over-year in February, the same as in the previous month. Meanwhile, economists had expected the rate to rise to 0.9 percent.

The annual price growth for unprocessed food products eased to 4.5 percent from 7.5 percent.

Core inflation, which excludes energy and fresh food, slowed to 2.4 percent from 2.7 percent in the previous month.

Both regulated and non-regulated energy product prices declined 17.2 percent and 18.2 percent, respectively.

On a monthly basis, consumer prices edged up by 0.1 percent.

Inflation, based on the harmonised index of consumer prices, stood at 0.9 percent in February, unchanged from January . Month-on-month, the HICP posted an increase of 0.1 percent.

Separate official data showed that Italy's jobless rate came in at a stable rate of 7.2 percent in January, as expected. In the same month last year, it was 7.9 percent.

Meanwhile, the employment rate dropped to 66.7 percent from 66.9 percent in December.

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