{"id":31151,"date":"2023-05-02T15:33:27","date_gmt":"2023-05-02T15:33:27","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/italy-cpi-rises-again\/"},"modified":"2023-05-02T15:36:22","modified_gmt":"2023-05-02T15:36:22","slug":"italy-cpi-rises-again","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/italy-cpi-rises-again\/","title":{"rendered":"Italy CPI rises again in April amid energy prices volatility"},"content":{"rendered":"<p>By Antonella Cinelli<\/p>\n<p>ROME (Reuters) &#8211;     Italian inflation jumped unexpectedly in April, driven by another spike in energy prices, official statistics agency ISTAT said on Tuesday.<\/p>\n<p>EU-harmonised consumer prices (HICP) rose a preliminary 1.0% month-on-month, with annual inflation accelerating to 8.8% from 8.1% in March, well above the median forecast of a 7.8% year-on-year rise.<\/p>\n<p>Italy&#8217;s inflation dynamic continues to be affected by an ongoing adjustment in energy prices, its most volatile component, wrote Loredana Maria Federico, chief Italian economist at UniCredit.<\/p>\n<p>ISTAT underlined that the annual rise was mainly due to non-regulated energy products such as fuel for domestic use, electricity in the liberalised market and vehicle fuels. In the main domestic price index these elements jumped 26.7% in April from a 18.9% increase the month before.<\/p>\n<p>On the contrary, regulated energy products showed a wider decline than in March (-26.4% from -20.3%).<\/p>\n<p>CORE INFLATION IN FOCUS<\/p>\n<p>&#8220;Given how low gas prices are on the wholesale market, we expect this to be only a temporary pause in the downward adjustment in inflation,&#8221; said UniCredit&#8217;s Federico, adding that &#8220;the dynamics of both food-price and core inflation moved broadly in line with expectations&#8221;.    <\/p>\n<p>Italian core inflation (net of fresh food and energy) was\u00a0stable at 6.8% year-on-year on the HICP index in April.<\/p>\n<p>In the euro zone, overall price growth picked up to 7.0% last month from 6.9% in March, but the underlying inflation growth unexpectedly eased to 7.3% from 7.5%, based on Eurostat data. <\/p>\n<p>A surprise growth in core inflation has been in focus in recent months, suggesting that the ECB could have more work to do to contain mounting price pressures.    <\/p>\n<p>In Italy the path towards a further slowdown in inflation remains solid, with producer prices also progressively showing a slowing signal, ING senior economist Paolo Pizzoli wrote.<\/p>\n<p>&#8220;But the data show that the process is likely to be slow and should only accelerate in the second half of the year,&#8221; he added.<\/p>\n<p \/>\n<p> (Reporting by Antonella Cinelli, Valentina Consiglio, editing by Keith Weir)<\/p>\n<p><a href=\"http:\/\/lynettelockhart.com\/client\/italy-cpi-rises-again\/a-woman-with-a-protective-mask-checks-vegetable-prices-at\/\"><img decoding=\"async\" src=\"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportEconomy\/tagreuters.com2023binary_LYNXMPEJ410N4-VIEWIMAGE.jpg\" alt=\"tagreuters.com2023binary_LYNXMPEJ410N4-VIEWIMAGE\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Antonella Cinelli ROME (Reuters) &#8211; Italian inflation jumped unexpectedly in April, driven by another spike in energy prices, official statistics agency ISTAT said on Tuesday. EU-harmonised consumer prices (HICP) rose a preliminary 1.0% month-on-month, with annual inflation accelerating to 8.8% from 8.1% in March, well above the median forecast of a 7.8% year-on-year rise. [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":31152,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1216],"tags":[],"class_list":["post-31151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-economy"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportEconomy\/tagreuters.com2023binary_LYNXMPEJ410N4-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/31151","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=31151"}],"version-history":[{"count":1,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/31151\/revisions"}],"predecessor-version":[{"id":31153,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/31151\/revisions\/31153"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/31152"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=31151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=31151"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=31151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}