Italy's annual inflation rate rose to 0.8% in January, up from 0.6% in December. The national statistics agency said its consumer price index was up by 0.3% in month-on-month terms.

It added, however, that 'core inflation', excluding energy and unprocessed food, decelerated from 3.1% to 2.8%. The agency's 'trolley index' of the prices of food, household and personal care goods rose from 5.3%. to 5.4% in year on year terms.