In January 2024 the rate of change of the Italian consumer price index for the whole nation (NIC) was +0.3% on monthly basis and +0.8% on annual basis (from +0.6% in December), confirming the flash estimate.
The increase of the growth on annual basis of all-item index was mainly due to the prices of services related to transport (from +3.7% to +4.2%), of those of unprocessed food (from +7.0% to +7.5%) and of regulated energy products (from -41-6% to -20.6%). On the contrary, the prices of services related to housing (from +4.2% to +2.8%) and of durable goods (from +1.5% to +0.7%) slowed down.
In January 2024, core inflation (excluding energy and unprocessed food) was +2.7% (from +3.1% in the previous month) and inflation excluding energy was +3.0% (from +3.4%).
As for goods, the year on year growth rate was -0.7% (from -1.5% in December) while for services the annual rate of change was +2.9 (down from +3.4%). As a consequence, the inflationary gap between services and goods decreased in absolute value (from +4.9 percentage points in December to +3.6).
Prices of grocery and unprocessed food increased by 0.8% on monthly basis and by 5.1% on annual basis (down from +5.3% in the previous month).
The increase on monthly basis was mainly due to the prices of non-regulated energy products (+1.3%), of unprocessed food (+1.0%), of processed food including alcohol and of non-regulated energy products (+0.9% both) and of non durable goods (+0.5%); on the other hand the prices of services related to transport (-1.2%) and of semi-durable goods (-0.1%) slowed down.
In January 2024 the rate of change of the Italian harmonized index of consumer prices (HICP) was -1.1% on monthly basis, due to the winter sales not considered by NIC, and +0.9% on annual basis (from +0.5% in December), confirming the flash estimate.
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