Italy Inflation September 2016


Annual variation in consumer prices turns positive in September

According to provisional data released by the Italian Statistical Institute (ISTAT), consumer prices fell 0.2% over the previous month in September, contrasting August’s 0.2% increase and marking the lowest result in seven months. The figure mainly reflected a decrease in prices for transport and for recreation and culture. Consumer prices grew 0.1% in September on an annual basis, swinging from August’s 0.1% fall. This marks the first positive result after seven straight months of price falls.

Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, dropped 0.3% in September on a monthly basis, which contrasted August’s 0.2% growth and marked the lowest result in ten months. Core inflation was 0.5% in September (August: 0.4%). Finally, harmonized consumer prices increased 0.1% over the same month last year, which contrasted August’s 0.1% drop and represented an eight-month high.

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%.

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Italy Inflation Chart

Italy Inflation September 2016

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

Italy Economic News

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    The National Institute of Statistics’ (Istat) consumer confidence index decreased from August’s revised 109.1 points (previously reported: 109.2) to 108.7 points in September, undershooting market expectations of a 109.1 reading and marking the worst result since July 2015. September’s reading reflected a deterioration in households’ assessments of their personal economic and general economic expectations for the future, with the latter hitting the worst result in two and a half years.

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