The Italian statistical office Istat released its preliminary consumer price inflation data for Italy on Wednesday. Preliminary consumer prices in Italy decreased 0.2% in January, after a flat reading in December.

Prices for services related to recreation including repair and personal care fell 0.5% in January, energy prices dropped 1.7%, while prices of unprocessed food decreased 0.5%.

On a yearly basis, consumer prices climbed 0.3% in January, after a 0.1% increase in December.

Prices for goods were flat year-on-year in January, while services prices rose 0.7%.

Consumer price inflation excluding unprocessed food and energy prices rose to 0.8% year-on-year in January from 0.6% in December.