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Italy harmonized consumer prices fall 1.6% in January

Italy's harmonized index of consumer prices fell by 1.6% in January 2018 from December 2017, but was up 1.1% from January 2017, according to preliminary estimates from the National Institute of Statistics.

The month-over-month decrease was primarily due to a 21.0% decline in clothing and footwear prices from the previous month. Core HICP inflation, which excludes energy and unprocessed food, decreased 2.3% in January 2018 from the previous month and was up 0.8% from January 2017.