Inflation, downward revision of February estimate: +1.5% year-on-year
The 'significant acceleration' (from +1.0% in January) is mainly due to the prices of recreational, cultural and personal care services
Istat revised down its estimates for inflation in February. The national index of consumer prices for the entire collectivity (NIC), gross of tobacco, marks a change of +0.7% on a monthly basis and +1.5% on an annual basis (from +1.0% in January). Istat affirms, revising the preliminary estimate of +1.6%. "Core inflation", net of energy and fresh food, shows a rise (from +1.7% to +2.4%), as does that net of energy goods only (from +1.9% to +2.5%).
"In February," ISTAT commented, "inflation recorded a significant acceleration (+1.5%, from +1.0% in January), due mainly to the evolution of prices of recreational, cultural and personal care services (+4.9%) and services related to transport (+2.9%); unprocessed food prices (+3.7%) also contributed to supporting the general inflationary trend. The only significant restraining effect is due to the broadening of the decline in energy prices (-6.6%)'.
Istat also revised downwards the prices of the so-called 'shopping trolley' in February, which in the preliminary estimates was +2.2%. "In the final estimates, prices of food, household and personal care goods accelerate to +2.0% from +1.9%, while those of high-frequency products remain stable (at +1.9%)."
