Italy Inflation October 2017


Italy: Inflation declines further in October

November 14, 2017

According to revised data released by the National Statistical Institute (Istat) on 14 October, consumer prices dropped 0.2% on a monthly basis in October, following September’s 0.3% decrease, confirming the flash estimate. 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%.

FocusEconomics Consensus Forecast panelists expect inflation of 1.4% in 2018, which is unchanged from last month’s projection. For 2019, panelists expect inflation to average 1.5%.

Author: Massimo Bassetti, Economist

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Italy Inflation Chart

Italy Inflation October 2017

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

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