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Italy’s inflation rate rose more than expected

Altre News JIACC

Italian inflation rate increased above estimates in January, while monthly prices fell on post-holiday store sales

Source: Bloomberg – Consumer prices based on European Union criteria rose last month 1.1 percent from a year earlier, national statistics agency Istat said in a preliminary report on Friday in Rome. The median estimate in a Bloomberg survey of 16 analysts called for a 0.8 percent rise. The Italian inflation rate is getting closer to the 1.3 percent recorded for the euro zone as a whole last month. That in turn is below the area’s central bank target of just under 2 percent. “The weakness of underlying price increases is unlikely to stop the European Central Bank from altering its forward guidance by dropping a commitment to keep expanding its asset purchases until inflation accelerates on a sustainable basis,” Bloomberg economists including Powell said in a note this week. The Italian figures for January were based on a revised basket of goods and services Istat uses to measure the monthly changes in Italy’s consumer prices

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