Italy: Inflation drops to lowest level in almost four years
September 30, 2013
In September, consumer prices fell 0.3% over the previous month, which 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 0.3% over the previous month in September (August: +0.4% month-on-month). Annual core inflation inched up from 1.1% in August to 1.3% 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 2.1% in 2013, which is unchanged from the previous month's projection. For 2014, panelists expect inflation to average 1.8%.
Author: Armando Ciccarelli, Head of Data Solutions