Italy Inflation October 2016


Italy: Annual variation in consumer prices turns negative in October

According to provisional data released by the Italian Statistical Institute (ISTAT), consumer prices remained flat over the previous month in October, following September’s 0.2% decrease. The figure mainly reflected almost stable prices for most types of product, as well as higher prices for non-regulated energy products offsetting lower prices for services related to transport. Consumer prices fell 0.1% in October on an annual basis, reverting September’s 0.1% increase and returning to negative territory.

Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, dropped 0.2% in October on a monthly basis, which represented a softer drop than September’s 0.3% fall. Core inflation was 0.2% in October (September: 0.5%), marking the lowest result on record. Finally, harmonized consumer prices decreased 0.1% from the same month last year, which contrasted September’s 0.1% rise.

FocusEconomics Consensus Forecast panelists expect inflation to stay flat in 2016, which is unchanged from last month’s projection. For 2017, panelists expect inflation to average 1.0%, which is also unchanged from last month’s forecast.

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Italy Inflation Chart

Italy Inflation October 2016

Note: Year-on-year and month-on-month var. of consumer price index in %.
Source: National Statistical Institute (Istat).

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