off-the-wire

Italy Feb EU-harmonised CPI decelerates less than forecasts to 9.9% y/y

Kitco Media
By Reuters
Published:
Updated:
Reuters
ROME, March 2 (Reuters) - Italian EU-harmonised consumer prices (HICP) rose a preliminary 0.2% month-on-month in February, with annual inflation slowing to 9.9% from 10.7% in January, data showed on Thursday. The HICP was above the median forecast of a 9.4% year-on-year rise in a Reuters survey of 13 analysts. Core inflation (net of fresh food and energy) was running at 7.1% year-on-year on the HICP index in February, up from 6.6% the month before. Official statistics agency ISTAT also reported that the main domestic price index (NIC), was at 9.2% annually in February, decreasing from a 10.0% annual rate in January.


ISTAT gave the following preliminary breakdown:


EU-harmonised index (HICP): Feb Jan Dec
Monthly change 0.2 -1.5 0.2
Yr/yr inflation 9.9 10.7 12.3
Index (base 2015=100) 119.5 119.3 121.1
The NIC index: Monthly change 0.3 0.1 0.3
Yr/yr inflation 9.2 10.0 11.6
Index (base 2015=100) 119.4 119.1 119.0



ISTAT gave the following sector-by-sector breakdown for the HICP in February:


Sector m/m yr/yr Food 1.8 13.5 Alcoholic drinks, tobacco 1.8 4.1 Clothing -1.6 7.3 Housing, electricity, fuel -4.3 24.5 Domestic goods 0.5 8.3 Health spending 0.5 2.5 Transport 1.2 6.6 Communications 1.4 0.8 Recreation 0.6 4.6 Education 0.0 0.7 Hotels, restaurants 0.5 8.1 Other goods, services 0.2 4.0
(Reporting by Antonella Cinelli, editing by Alvise Armellini)

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