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.
Author: Dirina Mançellari, Senior Economist