ITALY DATA: Preliminary April HICP rose +0.9% m/m, +3.8% y/y,
reaching the same y/y rise as in March, ISTAT said. The m/m rise follows
a steep gain of 2.5% in March, when the index hit the highest m/m rise
since the January 2001 series start, after the end of the seasonal
discount sales. The preliminary main domestic index (NIC) rose 0.5%
m/m and 3.3% y/y, reporting the same m/m and y/y increases as in March.
Core NIC Inflation was stable at +2.3% y/y, matching the index’s March
increase; while net of energy the y/y rate gained 2.2%, also the same
y/y rise registered in the previous month.