Italy Inflation Rate Down to 2.2 Percent in January


In January 2013, the Italian consumer price index for the whole nation increased by 0.2 percent compared with the previous month and by 2.2 percent with respect to January 2012 (0.1 lower than in December 2012) according to a release from the National Statistics Institute.

The fourth consecutive Italian inflation slowdown is mainly due to the annual growth rates decrease of prices of housing, water, electricity, gas and other fuels (+4.7 percent, from 6.4 percent in December) and of transport (+3.1 percent, from +4.6 percent in December). These slowdowns are also produced by the comparison with January 2012 when large increases of energetic goods prices were recorded.

Food and non-alcoholic beverages had an upward impact effect on inflation. The main cause is the large increase of fresh vegetables prices (+9.8 percent compared with the previous month, +13,4 percent with respect to January 2012).
 
In January 2013, the Italian harmonized index of consumer prices decreased by 2.0 percent compared with the previous month and rose by 2.4 percent with respect to January 2012 (0.2 lower than in December 2012). The large decrease on monthly basis was mainly due to the winter sales of clothing and footwear (-21.2 percent compared with December 2012), which are not taken into account in the national index.
 

ISTAT | Nuno Fontes | nuno@tradingeconomics.com
2/5/2013 10:31:50 AM