Italy still in deflation, but in comparison with last month there is a very small sign of recovery in prices. This is what emerges from preliminary estimates by Istat on consumer prices in March, which show how the national consumer price index for the entire community (NIC), gross of tobacco, is increased by 0,1% MoM and decreased by 0,1% year on year.
In the price comparison with the month of February Istat reports above all the marked cyclical increase in the prices of Transportation (+1,3%), which mainly reflects increases in fuel prices. Very limited increases in the prices of hospitality and restaurant services (+0,4%) and for alcoholic beverages and tobacco, housing, water, electricity and fuel and furniture, household items and services (for all three spending divisions +0,1%). The most evident drop in price comparison with the previous month is that relating to the communications and culture sector which both recorded a -0,6%.
In compared to the month of February the price of petrol and diesel increased by 4,9%, while those in the mobile phone equipment sector (-3%) and passenger air transport (-3,6%) fell.
Comparing the price data between March 2014 and the same month of this year, we note a marked increase in prices in the alcoholic beverages and tobacco sectors (+3%). Prices in the education sector (+1,8%) and food (+1,1%) also increased. The price of transport decreased compared to March 2014 (-2,1%) and, among others, the housing, water, electricity and fuel sector (-1,4%).
Analyzing specifically the data of the month that is ending and comparing them with those of March 2014, it can be seen that the prices of fresh vegetables (+12,8%) and water supply (+9,2%). On the other hand, the prices of fuels (petrol -8,5% and diesel -9,9%) and mobile phone equipment (-9,2%) decreased.
