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Italian harmonized inflation rises 2.5% in March

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Italian harmonized inflation rises 2.5% in March

Italy's harmonized index of consumer prices rose by 2.5% in March from February primarily due to a 29.8% increase in clothing and footwear prices, according to preliminary estimates from the country's National Institute of Statistics.

Core harmonized inflation, which excludes energy and unprocessed food, increased by 2.9% from the prior month. Services inflation increased 0.5% and prices of non-energy industrial goods rose by 8.2%. Energy prices were down 0.4% from the previous month.

Harmonized consumer prices were up 1.1% in March from a year earlier, up from a year-over-year increase of 0.5% in February. Core harmonized inflation was up 0.9% from a year ago, compared to a 0.6% year-over-year increase in the previous month.

The consumer price index for the whole nation increased 0.4% in March from the prior month and was up 0.9% from a year ago. Istat said inflation recovered due to higher prices of food, alcohol, tobacco and services related to transport.

Producer prices in Italy rose 0.2% in February and 1.6% year over year.