Italy Inflation October 2019

Italy

Italy: Inflation unchanged in October

October 31, 2019

Consumer prices remained unchanged month-on-month in October, following September’s 0.6% slump, according to provisional data released by the National Statistical Institute (ISTAT) on 31 October. The figure mainly reflected lower prices for services related to transport and recreation—influenced by seasonal factors—offsetting higher prices for regulated and non-regulated energy products. Meanwhile, inflation was stable at September’s 0.3% in October.

Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, dropped 0.2% from the previous month in October, a softer fall than September’s 0.6% decrease. Meanwhile, core inflation edged up from September’s 0.6% to 0.8%, while harmonized inflation was stable at 0.2%.

The Central Bank expects harmonized inflation of 0.9% in 2020 and 1.4% in 2021. FocusEconomics panelists also expect harmonized inflation to average 0.9% in 2020, which is down 0.1 percentage points from the previous month’s projection. For 2021, panelists expect harmonized inflation to average 1.2%.


Author: Massimo Bassetti, Economist

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Italy Inflation October 2019

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


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