Italy March EU-harmonised CPI slows to 8.2% y/y, below forecast

ROME, March 31 (Reuters) - Italian EU-harmonised consumer prices (HICP) rose a preliminary 0.8% month-on-month in March, with annual inflation slowing to 8.2% from 9.8% in February, data showed on Friday. The HICP was below the median forecast of an 8.9% year-on-year rise, in a Reuters survey of 15 analysts. Core inflation (net of fresh food and energy) was running at 6.9% year-on-year on the HICP index in March, down marginally from 7.0% the month before. Official statistics agency ISTAT also reported that the main domestic price index (NIC), rose 7.7% annually in March, decreasing from a 9.1% rate in February.

ISTAT gave the following preliminary breakdown:

EU-harmonised index (HICP): Mar Feb Jan
Monthly change 0.8 0.1 -1.5
Yr/yr inflation 8.2 9.8 10.7
Index (base 2015=100) 120.4 119.4 119.3
The NIC index: Monthly change -0.3 0.2 0.1 Yr/yr inflation 7.7 9.1 10.0 Index (base 2015=100) 118.9 119.3 119.1 ISTAT gave the following sector-by-sector breakdown for the HICP in March: Sector m/m y/y Food 1.0 13.4 Alcoholic drinks, tobacco 0.5 4.3 Clothing 20.8 4.0 Housing, electricity, fuel -6.7 15.0 Domestic goods 0.4 7.6 Health spending 0.3 2.6 Transport 0.1 2.7 Communications -0.6 1.3 Recreation 0.6 5.5 Education 0.1 0.9 Hotels, restaurants 0.6 8.0 Other goods, services 0.6 4.1

(Reporting by Antonella Cinelli, editing by Gavin Jones)