ITALY DATA: Preliminary December HICP rose 0.3% m/m and 2.0% y/y,
accelerating from +1.9% y/y in November. The preliminary data would
bring the average HICP increase for 2010 to +1.6% y/y, up from +0.8%
in 2009.
–The preliminary main domestic index (NIC) rose 0.4% m/m and 1.9% y/y,
up from +1.7% y/y in November.
–Core NIC Inflation rose 1.4% y/y, down from +1.5% y/y in November;
while net of energy the y/y rate gained 1.5%, posting the same rise as
–2010 average NIC CPI +1.5% y/y based on preliminary December data,
up from the 0.8% increase in 2009.