Italy Inflation September 2020


Italy: Pace of decline in annual prices sharpest in close to six years

October 16, 2020

Consumer prices fell 0.68% month-on-month in September, contrasting August’s 0.29% increase. The figure mainly reflected lower prices for services related to transport and for services related to recreation—mainly due to seasonal factors.

Meanwhile, prices were 0.6% lower from the same month of the previous year, from August’s 0.5% decline, marking the lowest reading since January 2015.

Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, fell 0.8% from the previous month in September, contrasting August’s 0.4% increase. Meanwhile, core inflation ticked down from 0.3% in August to 0.1% in September, while harmonized prices fell 1.0% compared the same period of 2019, following August’s 0.5% drop.

FocusEconomics panelists also expect harmonized prices to dip, on average, 0.1% in 2020, which is down 0.2 percentage points from the previous month’s projection. For 2021, panelists expect harmonized inflation to average 0.8%.

Author: Massimo Bassetti, Senior Economist

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Italy Inflation Chart

Italy Inflation September 20 20 0

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

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