Italy Jan EU-harmonised CPI revised to +10.7% y/y

Italian EU-harmonised consumer prices (HICP) fell 1.5% month-on-month in January and were up 10.7% from the year earlier, official statistics agency ISTAT said on Wednesday, revising down preliminary data.

The preliminary estimate had pointed to -1.3% month-on-month and +10.9% year-on-year.

January’s +10.7% annual rate was down from +12.3% in December.

The main domestic price index, rose 0.1% on the month and increased 10.0% annually, declining from an 11.6% annual rise in December.

Core inflation (net of fresh food and energy) was running at +6.6% year-on-year on the HICP index in January, up from +6.5% in the month before.

ISTAT gave the following details:

The EU-harmonised index (HICP):

Jan Dec Nov

Monthly change -1.5r +0.2 +0.7

Yr/yr inflation +10.7r +12.3 +12.6

Index (base 2015=100) 119.3r 121.1 120.8

The NIC index:

Monthly change +0.1r +0.3 +0.5

Yr-on-yr inflation +10.0r +11.6 +11.8

Index (base 2015=100) 119.1r 119.0 118.7