Italian HCOB Services PMI (Feb) 52.3 vs. Exp. 52 (Prev. 52.9)

• “Price and cost pressures remain elevated across Italy’s service sector. Companies cite rising wages as well as higher transport and energy costs. Output prices also increased in February, partly driven by markups from businesses benefiting from the Olympic Games.”

The Italian HCOB Services PMI for February came in at 52.3, exceeding expectations of 52, but down from 52.9 in the previous month. This indicates a slight overall expansion in the services sector, but persistent elevated price pressures—particularly from rising wages and energy costs—suggest ongoing inflationary concerns that could weigh on monetary policy considerations moving forward.