Italy February preliminary CPI +0.4% vs +0.6% y/y expected

Latest data released by Istat - 28 February 2020

• Prior +0.6%; revised to +0.5%
• CPI 0.0% vs +0.1% m/m expected
• Prior +0.2%; revised to +0.1%

• HICP +0.3% vs +0.4% y/y expected
• Prior +0.4%
• HICP -0.4% vs -0.3% m/m expected
• Prior -1.7%; revised to -1.8%

A softer touch for Italian inflation on the month but I wouldn't be too fussed. As mentioned earlier, the Saxony core inflation matters much more in my view and that showed a positive jump so the release above means little.