Italy: Inflation picks up in October
October 31, 2014
According to preliminary 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 result was driven by higher prices for gas and electricity. Consumer prices rose 0.1% over the same month last year, which 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. October’s increase contrasted the 0.1% drop the marked had expected.
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