Italy's Inflation Rate Rises

According to the National Statistics Office (INE), Italy's annual inflation rate reached 2% in March, marking a significant increase from the previous month's 1.6%. This preliminary report sheds light on the factors driving the uptick in consumer prices.

Key Drivers Behind the Inflation Surge

The report highlights that the acceleration in consumer price growth was primarily fueled by non-regulated energy products, with additional contributions from tobacco, unprocessed food, and services related to communication and recreation. Conversely, there was a noted moderation in the prices of regulated energy products and transport-related services.

Core Inflation Insights

Interestingly, the annual core inflation, which excludes energy and unprocessed food, remained steady at 1.7%. Meanwhile, inflation excluding energy saw a slight increase to 1.8%.

Monthly Consumer Price Movement

The harmonized index of consumer prices (HICP) experienced a 1.6% month-over-month increase, largely attributed to the conclusion of winter sales on clothing and footwear.