Italy consumer prices rise unexpectedly in January

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People walk near the Colosseum in Rome, Italy, March 8, 2020. A total of 6,387 people have tested positive for the coronavirus in Italy since the epidemic first broke out here over two weeks ago, the Civil Protection Department said Sunday. In addition, 366 people have died and 622 recovered, Civil Protection Department Chief Angelo Borrelli told reporters at a televised press conference. (Photo by Alberto Lingria/Xinhua)
People walk near the Colosseum in Rome, Italy, March 8, 2020. A total of 6,387 people have tested positive for the coronavirus in Italy since the epidemic first broke out here over two weeks ago, the Civil Protection Department said Sunday. In addition, 366 people have died and 622 recovered, Civil Protection Department Chief Angelo Borrelli told reporters at a televised press conference. (Photo by Alberto Lingria/Xinhua)

dpa-AFX/GNA – Italy’s consumer prices rose unexpectedly in January, preliminary data from the statistical office Istat showed on Wednesday.

The consumer price index rose 0.2 per cent year-on-year in January, reversing a 0.2 per cent decline in December. Economists had expected a 0.1 per cent fall.

The core inflation excluding prices of energy and unprocessed food rose to 0.7 per cent in January from 0.6 per cent in the preceding month.

On a month-on-month basis, consumer prices rose 0.5 per cent in January.

The EU measure of harmonized index of consumer prices, or HICP, rose 0.5 per cent annually in January, after a 0.3 per cent decline in the prior month. Economists had forecast a rise of 0.2 per cent.

On a monthly basis, HICP fell 1.1 per cent in January. Economists had expected a 1.5 per cent fall.

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