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)

Reuters

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

off-the-wire

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

By Reuters

Reuters

Reuters

Gold is never going back to $2,000: 'That's history,' prices to 3x from here – Peter Schiff

‘Biggest economic shift since Nixon’: Major U.S. monetary policy changes coming in 12-36 months – Jack Mallers

India joins South Africa in denying BRICS currency plans after Trump’s 100% tariff threat

Solid price gains for gold, silver after busy news weekend

Bitcoin remains a ‘speculative vehicle’ and ‘won’t work’ as a reserve: ‘I prefer gold’ – Ray Dalio