Financial News: Italy's Inflation Rises Less Than Estimated To 8.2%

Italy's Inflation Rises Less Than Estimated To 8.2%

(RTTNews) - Italy's consumer price inflation increased slightly less than initially estimated in April, preliminary data from the statistical office showed on Tuesday.

The consumer price index, or CPI, rose 8.2 percent year-over-year in April, faster than the 7.6 percent rise in March. That was just above the 8.3 percent spike seen in the flash data published on May 2.

The acceleration in inflation was largely due to non-regulated energy products, with price growth rising to 26.6 percent from 18.9 percent in March.

The inflation was, to a lesser extent, impacted by a 6.9 percent surge in prices for cultural and personal care services.

Meanwhile, prices of regulated energy products showed a further sharp decline of 26.7 percent.

Excluding energy and fresh food, core inflation stood at 6.2 percent versus 6.3 percent in March. In the initial estimate, it was 6.3 percent.

On a monthly basis, consumer prices moved up 0.5 percent in April, revised up from 0.4 percent.

Inflation, based on the harmonized index of consumer prices, moderated to 8.7 percent in April from 8.1 percent in the previous month. The preliminary estimate showed an increase of 8.8 percent.

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