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Italy harmonized consumer prices slip in February

The Italian harmonized index of consumer prices was down 0.5% in February from the previous month on the back of price reductions due to winter sales on clothing and footwear, the country's National Institute of Statistics said.

On an annual basis, the index rose 0.5% in February, compared to a 1.2% growth in January. Harmonized consumer prices were estimated to increase 0.7% annually in February.

Core harmonized inflation, which excludes energy and unprocessed food, was down 0.4% in February from the previous month, while it ticked up 0.6% year on year. Goods prices fell 1.1% on a monthly basis, and the prices of services gained 0.4%.

Meanwhile, the prices of goods rose 0.5% while those for services climbed 0.6% on an annual basis in February.