Tuesday, Italy's statistical office ISTAT announced that the consumer price index including tobacco rose 1.2% year-over-year in March, slower than the 1.6% increase in the previous month. The March inflation came in line with economists' expectations. A year ago, the CPI was up 3.3%.

On a monthly basis, the CPI rose 0.1% in March, compared with a 0.2% rise seen in the previous month.

The harmonized index of consumer prices or HICP rose 1% in March, after rising 1.5% in February. The HICP inflation was in line with economists' consensus. Month-on-month, the HICP increased 1.1%, larger than the 0.2% rise in the preceding month.

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