In March, inflation in Italy slowed down more than expected

By: Trademagazin Date: 2023. 03. 31. 11:21

In Italy, instead of the 8.2 percent expected by analysts, consumer prices rose by 7.7 percent year-on-year in March, after a 9.1 percent increase in February, the Italian statistics office, Istat, announced on Friday based on preliminary data.

Since last May, the inflation rate in March is the lowest in Italy. Based on preliminary data from Istat, consumer prices fell by 0.3 percent in a monthly comparison instead of the stagnation predicted by analysts. In February, monthly inflation was 0.2 percent.

The reason for the decrease in inflation in Italy in March is primarily the base effect. Energy prices rose sharply a year ago due to the war in Ukraine. In this way, for the first time in the base, the effect of the increased energy prices at that time appears, replacing the lower level before the war.