Home News Inflation, in March + 6.5% on an annual basis. The prices of energy and food are running

Inflation, in March + 6.5% on an annual basis. The prices of energy and food are running

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Inflation, in March + 6.5% on an annual basis.  The prices of energy and food are running

Istat revises its inflation estimates downwards. In March 2022, the institute estimates that the national consumer price index for the whole community (NIC), before tobacco, recorded an increase of 1.0% on a monthly basis and of 6.5% on annual basis (from + 5.7% the previous month). The preliminary estimate was + 6.7%.

Acceleration driven by energy assets

The acceleration in inflation on a trend basis is also due this month mainly to the prices of energy goods (whose growth goes from + 45.9% in February to + 50.9%), in particular those of the non-regulated component ( from + 31.3% to + 36.4%) while the prices of the regulated component continue to be almost double those recorded in the same month last year (+ 94.6%, as in February). The prices of both processed (from + 3.1% to + 3.9%) and unprocessed (from + 6.9% to + 8.0%) food goods, as well as those of durable goods (from +1, 2% to + 1.6%) and semi-durable goods (from + 1.0% to + 1.5%).

Transport prices down

The prices of transport services, on the other hand, recorded a slowdown (from + 1.4% to +1.0%). The “core inflation”, net of energy and fresh food, accelerates from +1, 7% to + 1.9% and that net of energy goods alone from + 2.1% to + 2.5%. On an annual basis, the prices of goods accelerate significantly (from + 8.6% to +9 , 8%), while those of services remain stable (+ 1.8%); therefore the negative inflation differential between the latter and the prices of goods widens (from -6.8 percentage points in February to -8.0).

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Inflation acquired for 2022 at + 5.2%

The inflation acquired for 2022 is equal to + 5.2% for the general index and + 1.5% for the core component. The harmonized index of consumer prices (HICP) increases by 2.4% on monthly basis, also due to the end of the winter sales, which the NIC does not take into account, and by 6.8% on an annual basis (from + 6.2% in February); the preliminary estimate was + 7.0%. The national consumer price index for blue-collar and white-collar households (FOI), net of tobacco, recorded an increase of 1.0% on a monthly basis and 6.4% on an annual basis. In the first quarter of 2022, the impact of inflation, measured by the HICP, is larger on households with lower spending power than those with higher spending levels (+ 8.3% and + 4.9% respectively).

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