Istat confirmed breakthrough, stop a recession and deflation – AGI – Agenzia Journalistic Italy

23:26 May 29, 2015

(AGI) – Rome, May 29 – Italy officially out of the recession and leave behind even deflation.
After four months, according to preliminary estimates by Istat, consumer prices are growing again in May. Inflation increased by 0.2% both compared to the previous month both to May 2014 (in April the trend rate was -0.1%). The resumption of growth in prices, explains the statistical institute, and ‘mainly due to the further downsizing of the decline on an annual basis of the non-regulated energy prices and accelerated growth in the prices of services; They contribute to the latter in particular reversal of annual price of transport services and the acceleration of growth of those services, recreational, cultural and personal care. Stable so-called ‘shopping cart’: the price of food, care of the house and of the person, increased by 0.1% on a monthly basis and recorded a yoy growth stable at 0.8%. Product prices high frequency of purchase increased by 0.3% in terms of both cyclical and trend (in April the annual rate was zero). GDP in the first quarter of 2015, increases of 0.3% over the previous quarter, so ‘as stated in the preliminary estimate. Were four years that the GDP recorded a growth not so ‘as that seen in the first three months of the year. Istat revised upward instead, to 0.1%, the trend compared to the preliminary estimate in which he had indicated no change on the same quarter of 2014.
To find a rise in trend terms must go back to the third quarter of 2011 (+ 0.4%). The change gained for 2015 was confirmed at 0.2%. “We are no longer ‘the sick man of Europe,” said the premier, Matteo Renzi. “There ‘s plenty to do. We will do it,” points out, “what we are seeing at all levels and’ that hope back to put up residence in Italy.” For the Minister of Economy, Pier Carlo Padoan, the data on GDP and ‘”encouraging” and that inflation “takes us away from an area of ​​possible risk of deflation”. According to Istat estimates, contained in Note monthly, economic growth and ” expected to continue in the coming months “; based on the forecast model of short-term, the economic variation of the real GDP expected for the second quarter and ‘equal to + 0.2%, with a confidence interval of between 0 and 0.4%. Both domestic demand (excluding inventories) and foreign demand are expected to make a positive contribution. In this scenario, growth for 2015 and gained ’0.4%. (AGI).