Italy Inflation Rises To 1.7%, Highest In 16 Months

(RTTNews) - Italy's consumer price inflation increased further in February to the highest level in sixteen months amid price developments in energy products, preliminary data from the statistical office showed on Friday.

Consumer price inflation accelerated to 1.7 percent in February from a 1.5 percent increase in January. A similar inflation rate was last seen in October 2023.

The upward trend in inflation was mainly due to a 31.5 percent surge in costs for regulated energy products compared to a 27.5 percent growth in January.

The price decline in non-regulated energy goods eased to 1.9 percent from 3.0 percent, which also contributed to the rise in inflation. Meanwhile, inflation-based transport-related services slowed to 1.9 percent from 2.5 percent.

Excluding energy and unprocessed food, core inflation was stable at 1.8 percent.

On a monthly basis, consumer prices moved up 0.2 percent in January, as expected.

Inflation, based on the harmonized index of consumer prices, rose at a stable rate of 1.7 percent in January. Monthly, the HICP edged up 0.1 percent.