March 29 (Reuters)- Italian producer prices rose 0.1 percent month-on-month in February, with the year-on-year rate easing to +0.3 percent, from +0.7 percent the month earlier, data showed on Friday.
The 0.3 percent annual rate in February accelerated the downward trend in place since the Autumn of 2011 and was the lowest since January 2010, national statistics bureau ISTAT said.
The data was slightly below expectations. The median forecast in a Reuters survey of analysts had pointed to a 0.5 percent rise month-on-month and a +0.7 percent annual rate.
January's monthly rate was revised to -0.5 percent from -0.4 percent previously while the annual rate was confirmed at +0.7 percent year-on-year.
ISTAT gave the following details:
PRODUCER PRICES FEB JAN DEC
Month/month pct change 0.1 -0.5r -0.2
Year/year pct change 0.3 0.7 2.1
Index (base 2005=100) 107.9 107.8r 108.3
(Reporting by Catherine Hornby, Rome newsroom +39 06 8522 4350, fax +39 06 854 0568
Copyright Thomson Reuters 2013. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.