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(CEP News) Frankfurt - The Rome-based National Institute for Statistics (ISTAT) has confirmed that Italian inflation slowed to its lowest level in March after accelerating unexpectedly in the previous month.
On an annualized basis, inflation came to a record low 1.2%, in line with preliminary estimates and down 0.4 percentage points from February's print, ISTAT reported on Thursday. The strongest gains were noted in alcoholic beverages and tobacco prices, which rose 5.2% year-over-year. Housing, electricity, gas and other fuel costs increased 3.4% over the same period. Italian consumer prices rose 0.1% between February and March as expected after rebounding 0.2% in the month to February, ISTAT added. In EU harmonized terms, the consumer price index accelerated to a growth rate of 1.2% in March after rising to 0.2% previously. Economists had expected a slightly more modest rate of 1.1%. Year-over-year, the HICP increased 1.1%, up from the 1.0% print expected, but down from February's 1.5% figure. The euro is currently trading down 0.4% on the day at 1.3174 USD. Written by CEP News European Staff,
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