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Italy April HICP stable at 0.0 percent year-on-year, in line with forecasts

Published 30/04/2015, 10:10
Updated 30/04/2015, 10:12
© Reuters. People stroll alongside the Navigli District, a network of interconnected canals in Milan

(Reuters) - Italian EU harmonised consumer prices (HICP) rose 0.5 percent month-on-month in April, with the year-on-year rate stable at zero, data showed on Thursday, as the risk of deflation persists.

The HICP exactly matched the average forecast in a Reuters survey of 16 analysts.

Official statistics agency ISTAT also reported that the main domestic price index (NIC), rose a preliminary 0.3 percent on the month and was unchanged annually, compared with a forecast of +0.2 pct m/m, -0.1 pct y/y in Reuters survey.

The higher month-on-month reading on the HICP was due to a rebound in the price of clothes and shoes after winter discount sales. The NIC index does not include prices affected by temporary discounts.

The annual NIC rate followed three consecutive declines and was up marginally from -0.1 percent in March.

Core inflation (net of fresh food and energy) was running at +0.4 percent y/y on the NIC index in April, stable at March's rate. No core inflation data is available for the HICP.

(Gavin Jones)

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