Italian Inflation Rate Confirmed at 0.3% in October

Consumer prices in Italy increased by 0.3 percent year-on-year in October of 2015, following a 0.2 percent growth in the previous month and in line with preliminary estimates. It was the highest value since May of 2014, driven up by cost of unprocessed food and services related to recreation.
Istat | Yekaterina Guchshina | 11/13/2015 10:27:28 AM
Year-on-year, cost of food and non-alcoholic beverages went up by 1.9 percent, against a 1.5 percent growth in September boosted by higher prices of unprocessed food (+4.1 percent, from +3.3 percent in September) and services related to recreation (+1.4 percent, from +1.1 percent in September). Meanwhile, these increases were partially offset by the further decrease of regulated energy products (-2.0 percent, from -1.1 percent in September 2015), due a wider decline of gas price (-3.2 percent, from -0.5 percent in September).

Upward pressure came from: restaurants and hotels (+2.1 percent); miscellaneous goods and services (+0.4 percent); health (+0.5 percent); furnishings and household equipment (+0.3 percent); and clothing and footwear (+0.5 percent). By contrast, prices of housing and utilities fell 0.4 percent and transport 3.3 percent.

Annual core inflation rate (excluding energy and unprocessed food) was recorded at 0.8 percent.

On a monthly basis, consumer prices went up by 0.2 percent, following a 0.4 percent drop in September and in line first estimates, mainly due to higher prices of electricity (+2.9 percent), gas (+1.9 percent) and unprocessed food (+0.7 percent); and partially balanced by decline in non-regulated energy products (-0.8 percent) and services related to transport (-0.7 percent).

Harmonised consumer prices increased by 0.3 percent year-on-year and by 0.5 percent on a monthly basis.

Italian Inflation Rate Confirmed at 0.3% in October