Consumer prices: provisional data

In April 2014, according to provisional estimates, the Italian consumer price index for the whole nation (NIC) rose by 0.2% compared with the previous month and by 0.6% with respect to April 2013 (0.2 higher than in March 2014).

The speed up of inflation was mainly due to the acceleration of the annual growth of prices of Services related to transport and to the reduction of the decline, on annual basis, of prices of Non-regulated energy products.

Excluding unprocessed food and energy, core inflation was 1.0% (0.1 higher than in March 2014); excluding only energy, the inflation was 0.9%, up from 0.8% in March 2014.

The increase on monthly basis of All items index was mainly due to the rise ‒ on which seasonal factors, as Easter holidays, had an impact ‒ of prices of Services related to transport (+2.2%) and Services related to recreation, including repairs and personal care (+1.0%).

The annual rate of change of prices of Goods was -0.2% (from -0.3% in March 2014) and the annual rate of change of prices of Services was +1.4% (up from +1.0% in the previous month). As a consequence, the inflationary gap between Services and Goods increased by 0.3 percentage points with respect to March 2014.

Prices of Grocery and unprocessed food declined by 0.1% on monthly basis and rose by 0.4% on annual basis (down from +0.7% in March 2014).

In April 2014, according to preliminary estimates, the Italian harmonized index of consumer prices (HICP) rose by 0.6% compared both with the previous month and with April 2013 (0.3 higher than in March 2014). The increase on monthly basis was also due to the final end of winter sales of Clothing and footwear (+3.6% with respect to March 2014), which are not taken into account in the national index NIC.

Core inflation measured by Italian HICP was 1.1%, up from 0.9% in March 2014; excluding energy, food, alcohol and tobacco, the inflation was 1.2% from 0.9% registered in the previous month. Italian HICP, excluding energy, increased by 0.9% with respect to April 2013 (0.1 higher than in March 2014).