Italy: Inflation moderates to more than one-year low
November 13, 2012
In October, consumer prices were flat over the previous month, mirroring the result recorded in September. Higher readings for education as well as for housing offset lower prices for communications as well as for hotels and restaurants. Annual inflation dropped from 3.2% in September to 2.6% in October, marking the lowest inflation since May 2011. The core inflation index, which excludes more volatile categories such as unprocessed food and energy, was also unchanged over the previous month, which was up from the 0.4% drop recorded in September. As a result, annual core inflation dropped from 1.9% in September to 1.5%. Finally, annual average HICP inflation in October was at 3.5%, which was a notch down from the 3.6% recorded in the previous month.
Author: Armando Ciccarelli, Head of Data Solutions