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Press release

Monthly report on Italian economy - March 2022

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In the last weeks, the uncertainty determined by the sanitary crisis has been reinforced by the war between Russia and Ukraine, exacerbating tensions in commodities market.

In February, the industrial production index increased by 4.0% with respect to the previous month. Assuming in March a value for the index equal to the one of February, in the first quarter the industrial production is expected to decrease by 0.9% with respect to the previous quarter.

In February, the number of employed people increased, while a drop was recorded for both unemployed and inactive persons.

According to preliminary estimates, the Italian harmonised index of consumer prices (HICP) increased by 7.0% on annual basis. The differential with euro area inflation turned negative.

In March, the consumer confidence climate diminished sharply. The unfavourable confidence evolution is mainly due to the deterioration of both the economic and future climate. Also the business confidence climate, worsened.

Reference period: March 2022

Date of Issue: 13 April 2022