Italy Inflation Rate Down to 1.7% in March


In March 2013, the Italian consumer price index for the whole nation increased by 1.7 percent with respect to March 2012 (0.2 lower than in February 2013) and by 0.3 percent compared with the previous month.

The sixth consecutive Italian inflation slowdown is mainly due to the annual growth rate decrease of prices of Transport (+1.7 percent, from +2.5 percent in February). This slowdown is produced by the comparison with March 2012 when large increases of energetic goods prices were recorded.

The NIC index increase with respect to February is mainly due to the rise on a monthly basis of prices of Transport (+1.0 percent) and Restaurant and hotel (+0.9 percent) on which seasonal factors had an impact.
 
In March 2013, the Italian harmonized index of consumer prices increased by 2.3 percent compared with the previous month and by 1.8 percent with respect to March 2012 (0.2 lower than in February 2013).
 
The large increase on a monthly basis is primarily due to the end of clothing and footwear winter sales, which are not taken into account in the consumer price index.

ISTAT | Nuno Fontes | nuno@tradingeconomics.com
4/1/2013 9:04:56 AM