The inflation in Italy it dates back to the highest levels in the last four years. This was communicated by Istat, specifying that, according to preliminary estimates for April, the national consumer price index gross of tobacco increased by1,8% year on year (a strong acceleration compared to the +1,4% in March) and by 0,3% on the month.
“The acceleration of inflation – reads a press release – derives above all by the rise in the prices of energy goods regulated (+5,7%, from -1,2% in the previous month), to which both theelectric energy (+5,4%) and natural gas (+6,0%), which both mark a trend reversal compared to March (from -1,0% and -1,4% respectively) and by the dynamics of prices services relating to transport (+5,5% from +2,5% in the previous month)".
The underlying inflation, i.e. net of the more volatile components (energy goods and fresh food) rises by three tenths of a percentage point (+1,0%, from +0,7% in March), while that net of energy goods alone remained stable at +1,2%, as in the previous month.
The month-on-month increase in the general index is largely attributable to increases in the prices of services relating to transport (+3,3%) and of those recreational, cultural and personal care (+1,1%), both of which are affected by seasonal factors linked to Easter and the long weekend of 25 April. Conversely, there was a drop in the prices of unprocessed food (-1,0%).
On an annual basis, the growth in the prices of beni rises by only one tenth of a percentage point (+1,8% from +1,7% in March), while the growth rate of the prices of services (+1,7% from +1,0%). Consequently, in April the negative inflationary differential between services and goods decreased to -0,1 percentage points (from -0,7% in March).
The prices of food, home and personal care products decreased by 0,4% on a monthly basis and recorded an increase of 1,8% on an annual basis (it was +2,3% in March), while those of frequently purchased products fell by 0,3% in quarterly terms and showed growth on an annual basis of 2,2%, down from the +2,7% of the previous month. The inflation acquired for 2017, i.e. the one that would be obtained in the event of zero changes over the next few months, is equal to +1,3%.
Inflation accelerates again even in the Eurozone. According to preliminary estimates by Eurostat, in April the average growth in consumer prices strengthened to 1,9% on an annual basis, compared to 1,5% in March. In February, inflation had risen to 2 percent.
The figure confirms the volatility of the general index recorded yesterday by Mario Draghi. After the last board meeting who confirmed the super-expansive monetary policy, the number one of the Eurotower explained that, to assess the prospects for price stability, the European Central Bank will look at the underlying trend in the medium term rather than at the individual month's data.
