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.