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Italy Inflation Rises As Estimated In February

Italy’s consumer price inflation accelerated in February to the highest in nearly three decades, final data from the statistical office Istat showed on Wednesday.

Driven by higher energy prices, consumer price inflation rose to 5.7 percent in February, as estimated, from 4.8 percent in January. This was the highest rate since 1996.

Excluding energy and fresh food, core inflation rose to 1.7 percent from 1.5 percent in the previous month.

Prices of goods climbed at a faster pace of 8.6 percent annually and that of services logged a steady growth of 1.8 percent in February. Energy prices grew 45.9 percent from the last year.

EU harmonized inflation advanced to 6.2 percent from 5.1 percent a month ago. The statistical office confirmed the preliminary estimate.

On a monthly basis, consumer prices gained 0.9 percent, slower than the 1.6 percent increase in January.

The harmonized index of consumer prices moved up 0.8 percent after staying flat a month ago. The monthly rates for both CPI and the HICP matched the flash estimate.

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