Italy Inflation September 2020


Italy: Pace of decline in annual prices stable in September

September 30, 2020

Consumer prices fell 0.6% month-on-month in September, contrasting August’s 0.3% 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 0.5% lower from the same month of the previous year, matching August’s decline—which had marked the lowest reading since June 2016.

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 0.9% 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

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

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