Istat confirms February inflation rate at 2.9%

| Sat, 03/15/2008 - 04:02

National statistics bureau Istat on Thursday confirmed that Italy's year-on-year inflation rate inn February was 2.9%, with a 0.2% rise in the consumer price index over January.

Last week Istat revised its year-on-yeatr inflation rate for January, lifting it from an earleir calculation of 2.9% to 3%.

Without calculating energy and fuel prices, Italy's inflation rate would have been 2.4% in February and 2.5% in January, Istat said.

The highest year-on-year prices increases last month were for transport (+5.5%), food and non-alcoholic beverages (+4.9%) and houusing and utlity costs (+4%.

Communications prices in one year fell 8% and health products and services dipped 0.1%.

Compared to January, prices for miscellaneous goods and services rose 0.6%, food and non-alcoholic beverages climbed 0.5%, home furnishings and services were up 0.5%, while thsoe for entertainment, recreation and culture jumped 0.4%.

The only sector to see a month-on-month decline was communications, off 0.4%.

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