Italy: Inflation ticks up in October on higher energy prices
November 16, 2018
According to a second estimate released by the National Statistical Institute (ISTAT) on 16 November, consumer prices remained unchanged month-on-month in October, following September’s 0.5% drop and confirming the preliminary estimate. The figure reflected higher energy prices being offset by lower prices for services related to transport, and recreation and culture—mainly attributable to seasonal factors. Meanwhile, inflation came in at 1.6% in October, above September’s 1.4% print.
Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, dropped 0.4% over the previous month in October, a smaller fall than September’s 0.7% month-on-month decline. Meanwhile, core inflation remained stable at September’s 0.7% in October, and harmonized inflation rose to 1.7% from the previous month’s 1.5%.
Italy Inflation Forecast
FocusEconomics Consensus Forecast panelists expect inflation of 1.5% in 2019, which is unchanged from last month’s projection. For 2020, panelists expect inflation to average 1.7%.