Italy: Inflation declines further in October
October 31, 2017
According to provisional data released by the National Statistical Institute (Istat), consumer prices dropped 0.2% on a monthly basis in October, following September’s 0.3% decrease. The figure once again mainly reflected lower prices for services related to transport and recreation, which partly reflected seasonal factors, and for education—due to a new set of rules on the financing of university education providing for lower university fees for students belonging to low-income families. Meanwhile, inflation came in at a nine-month low of 1.0% in October, decelerating further from the previous month’s 1.1% print.
Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, fell 0.4% in October on a monthly basis, following September’s 0.6% drop. Core inflation was 0.5% in October, slightly below September’s 0.7%. Finally, harmonized inflation came in at 1.1%, down from September’s 1.3%.