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Financial News: Italy Inflation Unrevised At 0.8%

Italy Inflation Unrevised At 0.8%

02/22/2024 - 05:12:00 (RTTNews)

(RTTNews) - Italy's consumer price inflation increased slightly, as initially estimated in January, the latest data from the statistical office, ISTAT, showed on Thursday.

The consumer price index rose 0.8 percent year-over-year in January, slightly faster than the 0.6 percent gain in the previous month, which was the slowest inflation rate since February 2021.

That was in line with the flash data published on February 1.

The annual growth in transport charges accelerated to 4.2 percent in January from 3.7 percent a month ago. Similarly, prices of unprocessed food increased at a faster rate of 7.5 percent versus 7.0 percent in the prior month.

Core inflation, which excludes energy and fresh food, slowed to 2.7 percent from 3.1 percent in the previous month. In the initial estimate, the rate was 2.8 percent.

The decline in regulated energy products softened to 20.6 percent from 41.6 percent.

On a monthly basis, consumer prices moved up 0.3 percent in January, as estimated.

Inflation, based on the harmonised index of consumer prices, stood at 0.9 percent in January, up from 0.5 percent in December. Month-on-month, the HICP posted a decline of 1.1 percent. There was no change in figures compared with the previous estimate.

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