Italy: Revised data confirms steady inflation in September
October 12, 2012
According to revised data released by Istat on 16 October, consumer prices were flat over the previous month in September. The reading matched the preliminary estimate released on 28 September and was below the 0.4% increase recorded in August. Higher readings for food and non-alcoholic beverages as well as for restaurants and hotels offset lower prices for transport as well as for recreation and culture. Annual inflation was also confirmed at 3.2%, which mirrored the result recorded in August. The core inflation index, which excludes more volatile categories such as unprocessed food and energy, fell 0.4% over the previous month, confirming the preliminary estimate and contrasting the 0.4% increase recorded in August. Annual core inflation was also unchanged over the previously estimate of 1.9%, which was down from the 2.1% recorded in August. Finally, annual average HICP inflation in September was at 3.6%, mirroring the preliminary reading and matching the result recorded in August.
Author: Armando Ciccarelli, Head of Data Solutions