Italy Inflation Accelerates Less Than Estimated

(RTTNews) - Consumer price inflation in Italy increased slightly less than initially estimated in April to the highest level in more than two-and-a-half years, the latest from the statistical office showed on Friday.

Consumer price inflation accelerated to 2.7 percent in April from March's 1.7 percent. Moreover, this was the highest inflation rate since September 2023. In the flash report, the inflation rate was 2.8 percent.

The upward trend in inflation was primarily driven by a 9.6 percent growth in costs for non-regulated energy products, which fell 2.0 percent in March.

The rise in inflation was also influenced by the price developments in regulated energy products, with prices rising by 5.3 percent. Inflation based on unprocessed food rose to 5.9 percent from 4.7 percent. Meanwhile, inflation based on recreation, including repair and personal care services, moderated to 2.6 percent from 3.0 percent.

Exluding energy and unprocessed food, core inflation eased to 1.6 percent from 1.9 percent.

On a monthly basis, consumer prices went up 1.1 percent after rising 0.5 percent in February. In the preliminary report, the rate of increase was 1.2 percent.

The EU measure of inflation was 2.8 percent in March, revised down from 2.9 percent, compared to 1.6 percent in the prior month. Monthly, the HICP climbed 1.6 percent.