Inflation slowed in Italy, but food prices rose

By: Trademagazin Date: 2023. 03. 16. 10:40

In Italy, consumer prices rose by 9.1 percent year-on-year in February, after a 10 percent increase in January, the Italian statistical office, Istat, announced on Thursday.

February 2022 is the lowest rate in Italy since September. The February figure of 9.2 percent was included in the preliminary estimate published two weeks ago.

Based on the final data of Istat, monthly inflation rose to 0.2 percent in February after 0.1 percent in January.
Istat noted that the slowdown in annual inflation was primarily caused by lower energy prices. According to Istat data, the decrease in the annual price increase is largely due to the effect of regulated energy prices, which showed a 16.4 percent decrease in the previous month, compared to 12 percent in January. The annual increase in unregulated energy prices decreased to 40.8 percent in February after 59.3 percent in January. At the same time, the prices of food and tobacco products rose at an accelerating rate in February.