Italy April EU-harmonised CPI slows to 6.6% y/y, slightly above forecasts

pThe HICP was slightly above the median forecast of a 6.5 yearonyear rise, in a Reuters survey of 15 analysts.pdivdivdiv classBodysc17zpet90 cdBBJodiv

pOfficial statistics agency ISTAT also reported that the main domestic price index NIC, was up 0.2 on the month and up 6.2 annually in April, following a 6.5 annual rate in March.p

pThe sharply different monthonmonth rates between HICP and NIC was due to the price rebound after cutprice winter sales for clothes and footwear. This was not reflected in the NIC, which does not include prices affected by temporary discounts.p

pCore inflation net of fresh food and energy was running at 2.7 yearonyear on the HICP index in April, up from 2.1 in March.p

pISTAT gave the following preliminary breakdown:p

pThe EUharmonised index HICP:p

pApr Mar Feb p

pMonthly change 0.6 2.4 0.8 p

pYryr inflation 6.6 6.8 6.2 p

pIndex base 2015100 112.0 111.3 108.7 p

pThe NIC index: p

pMonthly change 0.2 1.0 0.9 p

pYronyr inflation 6.2 6.5 5.7 p

pIndex base 2015100 110.6 110.4 109.3 p

pISTAT gave the following sectorbysector breakdown for the HICP in April:p

pSector mm yryrp

pFood 1.5 6.8p

pAlcoholic drinks, tobacco 0.2 0.5p

pClothing 5.4 1.5p

pHousing, electricity, fuel 0.1 26.8p

pDomestic goods 0.9 3.9p

pHealth spending 0.3 0.9p

pTransport 1.4 9.7p

pCommunications 0.3 2.7p

pRecreation 1.4 0.7p

pEducation 0.0 0.5p

pHotels, restaurants 1.4 3.7p

pOther goods, services 0.6 1.5p