Consumer prices - February 2022

Final data

In February 2022 the rate of change of the Italian consumer price index for the whole nation (NIC) was +0.9% on monthly basis and +5.7% on annual basis (from +4.8% in January), confirming the flash estimate.

The speed-up of the growth on annual basis of All-item index was mainly due to the prices of Energy (from +38.6% in January to +45.9%), especially of those of Non-regulated energy products (from +22.9% to +31.3%), whereas those of Regulated energy products confirmed their huge increase (+94.6% the same as in the previous month). Moreover, also prices of Unprocessed food (from +5.3% to +6.9%) and of Processed food including alcohol (from +2.2% to +3.1%) sped up.

Core inflation (excluding energy and unprocessed food) was +1.7% (from +1.5% in the previous month) and inflation excluding energy was +2.1% (up from +1.8%).

The annual rate of change of prices of Goods was +8.6% (from +7.0% in January) and that of prices of Services was +1.8% (the same as in the previous month). As a consequence, the inflationary gap between Services and Goods was still negative and equal to -6.8 percentage points (from -5.2 in January).

Prices of Grocery and unprocessed food increased by 0.7% on monthly basis and by 4.1% on annual basis (up from +3.2% in the previous month).

The increase on monthly basis was mainly due to the prices of Non-regulated energy products (+8.3%), of Unprocessed food (+1.7%), of Durable goods (+0.8) and of Processed food including alcohol (+0.4%).

In February 2022 the rate of change of the Italian harmonized index of consumer prices (HICP) was +0.8% on monthly basis and +6.2 % on annual basis (from +5.1% in January), confirming the flash estimate.