Consumer prices in Italy are expected to edge up by 0.1 percent year-on-year in September of 2016, following a 0.1 percent fall in August and in line with market consensus. It was the first month of rise in consumer prices after seven straight months of deflation, as energy prices fell less. On a monthly basis, consumer prices edged down 0.2 percent.
Main upward pressure came from cost of food and alcoholic beverages (+0.1 percent following a +0.9 percent in August); restaurants and hotels (+0.8 percent from +0.9 percent in August). Prices also increased for miscellaneous goods and services (+0.3 percent from +0.4 percent in August); health (+0.2 percent from +0.3 percent in August); recreation and culture (+0.3 percent from +0.8 percent in August); furnishing and household equipment (+0.3 percent from +0.4 percent in August); clothing and footwear (+0.4 percent, the same as August).
Meantime prices went down at slower pace for transport (-0.1 percent, from -2.3 percent in August) and housing and utilities (-1.4 percent, from -2.3 percent in August) while communication cost fell further (-1 percent from -0.4 percent in August).
On a monthly basis, consumer prices fell 0.2 percent, following a 0.2 percent rise in the preceding month and below market expectations of 0.3 percent decline. The decreased was mainly due lower prices of transport (-1.3 percent) and food (-0.1 percent).
The harmonized index on the month and on the year, both rose by 1.9 and 0.1 percent, respectively.
9/30/2016 9:55:51 AM