Italy January EU-harmonised CPI revised to +5.1% y/y

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– Italian EU-harmonised consumer prices (HICP) remained flat month-on-month in January and were up 5.1% from the year earlier, official statistics agency ISTAT said on Tuesday, revising down preliminary data.

The preliminary estimate had pointed to +0.2% month-on-month and +5.3% year-on-year.

January’s +5.1% annual rate was up from 4.2% in December.

The main domestic price index (NIC), rose 1.6%, on the month and increased 4.8% annually, accelerating from +3.9% in December.

Core inflation (net of fresh food and energy) was running at +1.5% year-on-year on the HICP index in January, unchanged from +1.5% in the month before.

ISTAT gave the following details:

The EU-harmonised index (HICP):

Jan Dec Nov

Monthly change 0.0r +0.5 +0.7

Yr/yr inflation +5.1r +4.2 +3.9

Index (base 2015=100) 107.8r 107.8 107.3

The NIC index:

Monthly change +1.6 +0.4 +0.6

Yr-on-yr inflation +4.8 +3.9 +3.7

Index (base 2015=100) 108.3 106.6 106.2

(Reporting by Luca Fratangelo, editing by Valentina Consiglio)