Italy: Inflation at close to three-year low in October
November 15, 2019
Consumer prices fell a revised 0.1% month-on-month in October (previously reported: 0.0% month-on-month), following September’s 0.6% slump, according to revised data released by the National Statistical Institute (ISTAT) on 15 November. The figure mainly reflected lower prices for services related to transport and recreation—influenced by seasonal factors—more than offsetting higher prices for regulated and non-regulated energy products. Meanwhile, inflation came in at a revised 0.2% in October (previously reported: 0.3%), 0.1 percentage points lower than September’s print and the lowest reading since November 2016.
Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, dropped 0.3% from the previous month in October, a softer fall than September’s 0.6% decrease. Meanwhile, core inflation inched up from September’s 0.6% to 0.7%, while harmonized inflation was stable at 0.2%.