Italy Inflation

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Italy: Consumer prices mark second consecutive annual drop since 1959

October 14, 2014

According to more detailed data for September, consumer prices fell 0.4% over the previous month, which contrasted the 0.2% increase recorded in August and marked the biggest drop on record. The result was slightly down from the 0.3% fall reported in the preliminary estimate and was driven by lower prices for transport and energy. Consumer prices fell 0.2% over the same month last year, which was down from the 0.1% drop estimated in the advance release. The figure came in below August’s 0.1% decrease, which had marked the first annual drop since 1959.

Core consumer prices, which exclude more volatile categories, such as unprocessed food and energy, fell 0.5% in September over the previous month, which contrasted the 0.4% increase recorded in August. Annual core inflation inched down from 0.5% in August to a record low of 0.4% in September. Finally, annual HICP inflation averaged a record low 0.4% in September, which was slightly down from the 0.5% recorded in August.

FocusEconomics Consensus Forecast panelists expect inflation to average 0.6% in 2014, which is down 0.1 percentage points from the previous month’s projection. For 2015, panelists expect inflation to average 1.0%.


Author:, Senior Economist

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Italy Inflation Chart


Italy Inflation September 2014 0

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


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