Italy Inflation October 2021

Italy

Italy: Inflation increases in October

November 16, 2021

Consumer prices rose 0.67% from the previous month in October, swinging from the 0.19% fall logged in September. October's figure marked the highest reading since January. In detail, the uptick was broad-based, with greater price pressures recorded for food and non-alcoholic beverages. In addition, prices for transportation and recreation and culture fell at a softer pace.

Inflation came in at 3.0% in October, which was up from September’s 2.5%. October's result represented the highest inflation rate since September 2012. Meanwhile, the trend pointed up, with annual average inflation coming in at 1.2% in October (September: 0.9%). Lastly, harmonized inflation rose to 3.2% in October, from September’s 2.9%.

FocusEconomics panelists expect harmonized inflation to average 1.6% in 2022, which is up 0.3 percentage points from the previous month’s projection. For 2023, panelists expect harmonized inflation to average 1.3%.


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Italy Inflation October 2021 2

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


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