ROME (ITALPRESS) – According to Istat’s preliminary estimates, in January 2025, the national consumer price index for the entire community, before tobacco, increased 0.6 percent over December and 1.5 percent over January 2024, from +1.3 percent in the previous month.
The year-on-year acceleration is mainly due to the increase in the prices of Regulated Energy Goods (from +12.7 percent to +27.8 percent), the easing of the decline in those of Unregulated Energy Goods (from -4.2 percent to -3.0 percent), and, to a lesser extent, the increase in the pace of growth in the prices of Processed Food Goods (from +1.7 percent to +2.0 percent). These effects were only partly offset by the deceleration in the prices of Services related to transportation (from +3.6% to +2.5%) and those of Services related to communications (from +1.2% to +0.9%).
In January, “core inflation” net of energy and fresh food remained stable (at +1.8%), while “core inflation” net of energy goods alone rose slightly (from +1.7% to +1.8%).
The trend dynamics of goods prices show an acceleration (from +0.2% to +0.7%), while that of services remains stable (at +2.6%). The inflation differential between the services and goods sectors narrows to +1.9 percentage points (from +2.4 in December 2024).
The trend rate of change in the prices of Food, Household and Personal Care Goods shows a slight increase (from +1.7 percent to +1.8 percent), as does the rate of change in the prices of High Frequency Products (from +1.7 percent to +2.1 percent).
The cyclical increase in the overall index is mainly due to the prices of Regulated (+14.5 percent) and Unregulated (+2.6 percent) Energies, Processed (+1.2 percent) and Unprocessed (+0.9 percent) Food, and Durable Goods (+0.5 percent); the effects of these increases were only partly offset by the decrease in the prices of Transport-related Services (-2.3 percent).
Acquired inflation for 2025 is +0.9 percent for the overall index and +0.5 percent for the core component.
Based on preliminary estimates, the Harmonized Index of Consumer Prices (HICP) shows on a monthly basis a change of -0.7%, due to the start of the winter clothing and footwear sales (not considered for the NIC index), and on an annual basis a change of +1.7% (accelerating from +1.4% in December 2024).
“In January 2025, according to preliminary estimates, inflation rises slightly to 1.5 percent from 1.3 percent in December,” Istat comments. This trend mainly reflects the exhaustion of deflationary pressures in Energy prices (-0.7 percent from -2.8 percent in December), following the marked acceleration in prices of the regulated component (+27.8 percent from +12.7 percent). A contribution to inflation is also owed to continued tensions in the prices of Processed Food (+1.7% to 2.0%), the effects of which are also felt in the so-called “shopping cart” (+1.7% to +1.8%). Decelerating, however, were the prices of some services, including those related to transportation and communications. In January, core inflation remains stable at +1.8 percent.”
– IPA Agency Photos –
(ITALPRESS).
