MNI: Canada Apr-Sept Budget Deficit Widens On Spending

CANADA'S TRUDEAU: I CONTINUE TO HAVE GOOD TALKS WITH TRUMP

MNI BRIEF: Little Macro Difference On Rate Oprions- de Guindos

MNI BRIEF: PBOC Added Outright Repo For Ample Lqdty In Nov

MNI China Daily Summary: Friday, November 29

MNI BRIEF: China Extends U.S. Import Tariff Exemption List

EZ/UK T-Bill Calendar: Germany, Netherlands, France Due Monday

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

CANADA Q3 GDP ANNUALIZED +1.0% AS EXPECTED ON GOVT, CONSUMERS

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

HICP 2 tenths softer than expected, but partly on clothing prices

ITALY DATA
  • Italian flash HICP for March came in 2 tenths lower than expected in Y/Y terms at +1.3%Y/Y (consensus +1.5%, prior +0.8%). On a M/M basis +1.2%M/M (consensus +1.4%, prior flat).
  • On the national (NIC) basis, it was +1.3%Y/Y in March (consensus +1.4%, prior +0.8%).
  • Core inflation was +2.4%Y/Y (+2.3 prior).
  • The following are all based on the HICP basis rather than NIC:
    • Services ticked up from 3.1%Y/Y in February to 3.3%Y/Y in March.
    • Disinflation in NEIG continued, increasing by +0.8%Y/Y in March (from +1.2%Y/Y in February). Clothing and footwear were the biggest downward driver (but this is a volatile component and this year's +19.5%M/M rise is not hugely below March 2023's +20.8%M/M rise).
    • There was a smaller negative base effect from energy prices. Despite falling -1.7%M/M in March, the Y/Y rate was -17.4%Y/Y in February and picked up to -10.9%Y/Y in March.
    • Food prices rose +0.3%M/M in March with the Y/Y print down from 3.9%Y/Y in February to 3.4%Y/Y in March, with the fall in the Y/Y rate driven by unprocessed food.
    • Transport was an upside contributor rising +0.8%M/M to increase +2.4%Y/Y in March (versus +1.6%Y/Y in February.
DataHomepagemarkets-real-timeData BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.