Italy: Inflation slows further in October
November 12, 2013
According to final data for October, consumer prices fell 0.2% over the previous month The reading was above the 0.3% fall recorded in September. Lower prices for communications and transport were the main drivers behind October's drop. Meanwhile, annual inflation fell from 0.9% in September to 0.8% in October, marking the lowest level since November 2009.
The core inflation index, which excludes more volatile categories such as unprocessed food and energy, was unchanged over the previous month in October (September: -0.4% month-on-month). Annual core inflation was also unchanged over September, remaining stable at 1.2%. Finally, annual HICP inflation averaged 1.6% in October, which was down from the 1.8% recorded in September.
FocusEconomics Consensus Forecast panelists expect inflation to average 1.4% in 2013, which is down 0.1 percentage points from the previous month's projection. For 2014, panelists expect inflation to average 1.5%, which is unchanged from last month's projection.
Author: Armando Ciccarelli, Head of Data Solutions