Italy’s consumer prices declined for a second straight month in March, while the unemployment rate resumed its rising trend in February, figures from the statistical office ISTAT showed Tuesday.
The consumer price index fell 0.1 percent annually in March, at the same pace as in February, preliminary data showed. It was the third decline in a row and was in line with economists’ expectations.
Month-on-month, the CPI rose 0.1 percent after a 0.4 percent gain in February. Economists had expected a 0.2 percent increase. Prices climbed for the second consecutive month.
Meanwhile, the EU measure of inflation unexpectedly logged an annual fall for March. The harmonized index of consumer prices dropped 0.1 percent annually, reversing a 0.1 percent gain in February. Economists had forecast a 0.1 percent increase.
On a monthly basis, the HICP rose 2 percent in March, which was much faster than the 0.3 percent increase in the previous month. However, it was slightly slower than the 2.2 percent gain expected by economists.
ISTAT also released the industrial producer price data for February. Producer prices dropped 2.6 percent annually following a 3.1 percent fall in the previous month, which was revised from 2.9 percent estimated earlier.
However, producer prices climbed 0.5 percent from January, marking its first increase in eight months. In January, prices dropped 1.3 percent, revised from 1.1 percent.
Domestic producer prices fell 3.3 percent annually after a 3.8 percent slump at the start of the year. On a monthly basis, prices rose 0.5 percent, which was the first increase in five months. In January, prices dropped 1.7 percent.
In a separate communique, the ISTAT said the unemployment rose to 12.7 percent in February from 12.6 percent in January. It was the first increase in the jobless rate in three months.
The youth jobless rate, which applies to the 15-24 age group, also climbed in February. The rate rose to 42.6 percent from 41.2 percent in the previous month. The latest figure was the highest since 42.9 percent logged in November.
The number of unemployed grew by 0.7 percent or by 23,000 from the previous month. From a year ago, the figure grew by 2.1 percent or 67,000 persons.
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