Italy October EU-harmonised CPI accelerates to 1.0% y/y, above forecast
2024.10.31 06:32
ROME (Reuters) – Italian EU-harmonised consumer prices (HICP) rose a preliminary 0.3% month-on-month in October, with annual inflation accelerating to 1.0% from 0.7% in September, data showed on Thursday.
The HICP year-on-year rate was above the median forecast of 0.8% in a Reuters survey of 11 analysts. The survey had forecast a monthly rise of 0.2%.
Official statistics agency ISTAT also reported that the main domestic price index (NIC (NASDAQ:)), was flat on the month and up 0.9% annually in October, following a 0.7% annual rate the previous month.
Core inflation (net of fresh food and energy) was running at 2.0% year-on-year on the HICP index in October, up from 1.9% in September.
ISTAT gave the following details:
OCT SEPT AUG
The EU-harmonised index (HICP):
Monthly change +0.3 +1.2 -0.2
Year-on-year inflation +1.0 +0.7 +1.2
Index (base 2015=100) 123.4 123.0 121.6
The NIC index:
Monthly change 0.0 -0.2 +0.2
Year-on-year inflation +0.9 +0.7 +1.1
Index (base 2015=100) 121.2 121.2 121.4
ISTAT gave the following sector-by-sector breakdown for the HICP in October:
Sector m/m yr/yr
Food +1.3 +2.7
Alcoholic drinks, tobacco -0.1 +2.4
Clothing +4.0 +1.0
Housing, electricity, fuel 0.0 -1.7
Domestic goods +0.3 +0.5
Health spending +0.1 +2.5
Transport -0.4 -2.4
Communications -0.4 -5.9
Recreation -0.3 +2.5
Education +2.0 +2.9
Hotels, restaurants -1.5 +3.5
Other goods, services +0.4 +2.6
