Italy Inflation

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Italy: Inflation picks up in October

November 13, 2014

According to more detailed data for October, consumer prices rose 0.1% over the previous month, which contrasted the 0.4% drop recorded in September and marked the highest value since August. The figure met the preliminary estimate and was driven by higher prices for gas and electricity. Consumer prices rose 0.1% over the same month last year, which met the preliminary estimate but contrasted the 0.2% drop observed in the previous month. September’s result had marked the second consecutive annual drop in consumer prices since 1959.

Core consumer prices, which exclude more volatile categories, such as unprocessed food and energy, rose 0.1% in October over the previous month, which contrasted the 0.5% drop recorded in September. Annual core inflation inched up from 0.4% in September to 0.5% in October. Finally, annual HICP inflation averaged a record low 0.3% in October, which was slightly down from the 0.4% recorded in September.

FocusEconomics Consensus Forecast panelists expect inflation to average 0.2% in 2014, which is down 0.1 percentage points from the previous month’s projection. For 2015, panelists expect inflation to average 0.7%, which is unchanged from last month’s Consensus.


Author:, Senior Economist

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Italy Inflation Chart


Italy Inflation October 2014

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


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