Italy Inflation Confirmed At 1.2%

(RTTNews) - Consumer price inflation in Italy softened as initially estimated in October to the lowest level in a year, the latest data from the statistical office showed on Monday.

Consumer price inflation slowed to 1.2 percent in October from 1.6 percent in September. That was in line with the flash data published on October 31.

The slowdown in inflation was largely due to a 0.5 percent fall in prices of regulated energy products, which grew 13.9 percent in September.  

The annual price growth in unprocessed food products softened to 1.9 percent from 4.8 percent, and inflation based on transport-related services slowed to 2.0 percent from 2.4 percent.

Excluding energy and fresh food, core inflation eased slightly from 2.0 percent to 1.9 percent. In the flash estimate, the core inflation rate held steady at 2.0 percent. .

On a monthly basis, consumer prices dropped 0.3 percent in October, as estimated.

Inflation, based on the harmonized index of consumer prices, eased to 1.3 percent in October from 1.8 percent in the previous month. Monthly, the HICP decreased 0.2 percent. There was no change in figures compared to the earlier estimate.