Italy sees decline in annual inflation to 1.7% in October 2023

The slowdown of the annual inflation rate was due to the prices of non-regulated energy products—from 7.6 per cent to -17.7 per cent, of regulated energy products—from -27.9 per cent to -31.7 per cent, the Italian National Institute of Statistics (ISTAT) said in a press release.

The core inflation (all-items excluding energy and unprocessed food) was 4.2 per cent—down from 4.6 per cent in September and the all-items index excluding energy was 4.2 per cent—from 4.8 per cent in the previous month. As for goods, the year-on-year growth rate was zero—from 6.0 per cent.

The month-on-month decrease of NIC was mainly due to the prices of non-regulated energy products at -1.9 per cent. At the same time, the prices of regulated energy products at 13.8 per cent have increased.

In October 2023 the Italian harmonised index of consumer prices (HICP) increased by 0.1 per cent on a monthly basis and by 1.8 per cent on an annual basis—down from 5.6 per cent in the previous month; the flash estimate was 1.9 per cent.

ALCHEMPro News Desk (NB)