Italy EU-harmonised CPI jumps to 2.9% y/y in April, above forecast
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A woman looks for shoes in a shop in Rome, Italy, April 10, 2016. REUTERS/Max Rossi
ROME, April 30 (Reuters) - Italian EU-harmonised consumer prices (HICP) rose by 1.7% in April from the month before, with the annual inflation rate surging to 2.9% from 1.6% in March amid increasing energy costs due to turmoil in the Middle East, preliminary data showed on Thursday.
The reading was far above a median forecast in a Reuters survey of 16 analysts which pointed to an increase of 1.3% month-on-month and a year-on-year rise of 2.5%.
April's year-on-year rate was the highest since October 2023, official statistics agency ISTAT said.
ISTAT also reported that the main domestic price index (NIC) was up 1.2% month-on-month in April and up 2.8% annually, following a 1.7% annual increase in March.
Core inflation (net of fresh food and energy) was running at 1.6% year-on-year on the HICP index in April, slowing from 1.8% in March.
(Reporting by Antonella Cinelli, graphic by Stefano Bernabei, editing by Gavin Jones)
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