Italy Inflation


Final data confirms inflation reached lowest level in nearly four years

According to final data for September, consumer prices fell 0.3% over the previous month. The reading was in line with the 0.3% preliminary estimate released on 30 September and contrasted the 0.4% increase recorded in August. Lower prices for transport were the main driver of September's drop. Meanwhile, annual inflation fell from 1.2% in August to 0.9% in September, marking the lowest level since November 2009.

The core inflation index, which excludes more volatile categories such as unprocessed food and energy, fell 0.4% over the previous month in September (August: +0.4% month-on-month). Annual core inflation inched up from 1.1% in August to 1.2% in September. Finally, annual HICP inflation averaged 1.8% in September, which was down from the 2.0% recorded in August.

FocusEconomics Consensus Forecast panelists expect inflation to average 1.4% in 2013, which is down 0.1 percentage points from the previous month's projection. For 2014, panelists also expect inflation to average 1.5%, which is unchanged from last month's projection as well.

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Italy Inflation Chart

Italy Inflation September 2013

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

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