Italy: Inflation inches up in October
November 16, 2010
In October, consumer prices (including tobacco) increased 0.2% over the previous month, which contrasted the 0.2% drop recorded in September and confirmed the result of the preliminary estimate released on 29 October. As a result, annual inflation inched up from 1.6% in September to 1.7% in October, matching market expectations. Higher prices for alcoholic beverages and tobacco as well as for education more than offset lower prices for communications and transports. The core inflation index, which excludes more volatile categories such as non-processed food and energy, rose 0.3% over the previous month. As a result, annual core inflation rose from 1.4% in September to 1.5%. Finally, annual average harmonised inflation jumped from 1.3% in September to 1.5% in October.
Author: Armando Ciccarelli, Head of Data Solutions