Italiano
Prezzi al consumo

Consumer prices

In February 2018, the rate of change of Italian consumer price index for the whole nation (NIC) was null compared with the previous month and +0.5% compared with February 2017 (it was +0.9% in January 2018). The flash estimate was +0.6%.

In February, the slowdown of the growth on annual basis of All items index was mainly due to the trend reversal of prices of Unprocessed food (-3.2% from +0.4% in the previous month); other and strengthened by the deceleration of prices of both Processed food including alcohol (+1.3% down from +2.1% in January) and of Regulated energy products (+5.3% down from +6.4%).

As a consequence, Excluding energy and unprocessed food, core inflation was +0.6% (as in January) and inflation excluding energy was +0.2% (down from +0.6% in the previous month).

The zero variation on monthly basis of All items index was due to opposite and symmetric dynamics of Goods (-0.4%) and Services (+0.4%) due, in particular, on one side to the prices of Food including alcohol (both of them -0.7%) and on the other side to those of Services related to transport (+1.6%).

The annual rate of change of prices of Goods was +0.3% (down from +1.3% in January) and that one of prices of Services was +0.8% (up from +0.6% in the previous month). As a consequence, the inflationary gap between Services and Goods was positive after five months and equal to +0.5 percentage points (it was -0.7 percentage points in January).

Prices of Grocery and unprocessed food decreased by 0.7% on monthly basis and by 0.6% on annual basis (from +1.2% in the previous month).

In February 2018 the Italian harmonised index of consumer prices (HICP) decreased by 0.5% compared with the previous month (for the further reductions of prices for the winter sales of Clothing and footwear) and increased by 0.5% with respect to February 2017 (it was +1.2% in January). The flash estimate was +0.7%.

In February both core inflation, measured by Italian HICP (+0.6%) and inflation excluding energy, food, alcohol and tobacco (+0.5%) decelerated by 0.2 percentage points compared with the previous month while inflation excluding energy was +0.3% (0.5 percentage points lower than in January).

In February 2018, the Italian harmonized index of consumer prices at constant tax (HICP-CT) decreased by 0.4% compared with the previous month and increased by 0.6% with respect to February 2017. Therefore, the difference between HICP and HICP-CT growth rates - which incorporates the effects of changes in indirect taxes occurred in the last twelve months - was negative and equal to 0.1 percentage points.

tags:
consumer prices, consumptions, CPI, HICP, inflation, price, statistics flash
theme:
Prices
document typology:
Press release
Reference period
February 2018
Date of publication
16 March 2018
Next release
30 March 2018
Full Text
(pdf 467 KB)
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