Food inflation accelerated in Italy in January

By: Trademagazin Date: 2024. 02. 01. 11:11

In Italy, consumer prices rose by 0.8 percent year-on-year in January, following the 0.6 percent increase in December, the smallest increase since February 2021, almost three years ago – the Italian statistical office, Istat, announced the preliminary data on Thursday.

Based on Istat data, consumer prices in Italy increased by 0.3 percent on a monthly basis in January, following a 0.2 percent increase in the previous month.

According to Istat’s statement, the acceleration of the annual price increase was primarily due to the accelerating increase in the price of transport services and unprocessed food, as well as the fact that the price decrease of regulated energy products slowed from 41.6 percent in December to 21.4 percent.

The growth rate of the harmonized consumer price index (HICP), calculated for EU comparison purposes, accelerated to 0.9 percent on an annual basis in January from 0.5 percent in December, and a month-on-month decrease of 1.1 percent was measured after the 0.2 percent increase in December.

The annual core inflation calculated without unprocessed food and energy decreased from 3.1 percent in the previous month to 2.8 percent in January.