Istat, inflation accelerates less than expected: +1.2% in March

MILAN – Slight downward revision forinflation in March. Istat corrected it preliminary estimates and prices rose 1.2% compared to March 2023, from 1.3% initially expected, while they recorded no change on a monthly basis. Data in any case accelerating compared to the annual growth of 0.8% recorded last month.

Istat explains that “the slight acceleration reflects the easing of the year-on-year decline in the prices of energy goods (-10.8% from -17.3% in February), both for the regulated and unregulated component.

The ECB postpones the rate cut until June: “We will decide based on inflation”

by our correspondent Tonia Mastrobuoni

April 11, 2024

Support for inflation is also due to the acceleration in the prices of transport-related services (+4.5% from +3.8%). On the other hand, the prices of unprocessed food products also showed a slowdown in March (+2.6% from +4.4%). The annual dynamics of “shopping cart” prices slowed down (+2.6%), while underlying inflation stood at +2.3% (stable compared to the previous month)”.

More in detail, “the acceleration of the inflation rate is mainly due to the attenuation on a trend basis of the decline in the prices of unregulated energy goods (from -17.2% to -10.3%) and regulated ones (from – 18.4% to -13.8%) and, to a lesser extent, to the growth of those of transport services (from +3.8% to +4.5%); Unprocessed food (from +4.4% to +2.6%), Tobacco (from +2.6% to +1.9%) and Processed food (from +3.4% to +2 .8%)”.

In March, “underlying inflation”, net of energy and fresh food, remained stable at +2.3%, while that net of energy goods alone decelerated from +2.6% to +2.4% .