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Italy harmonized consumer prices decline 1.5% in January

Italy's harmonized index of consumer prices fell by 1.5% in January 2018 from December 2017, compared to an initial estimate of a 1.6% decline, the country's National Institute of Statistics said.

The month-over-month decrease was primarily due to a 21.0% decline in clothing and footwear prices from the previous month. Core harmonized inflation, which excludes energy and unprocessed food, decreased by 2.3% in January 2018 from the previous month, in line with the preliminary estimate.

Harmonized consumer prices were up 1.2% from January 2017, and core inflation increased 0.8% year over year.