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Financial News: Italy Inflation Rises More Than Estimated In October

Italy Inflation Rises More Than Estimated In October

11/16/2021 - 05:32:00 (RTTNews)

(RTTNews) - Italy's consumer price inflation accelerated more than estimated in October, driven by higher energy prices, final data from the statistical office Istat showed on Tuesday.

Consumer price inflation rose to 3.0 percent from 2.5 percent in September. The rate was initially estimated to rise to 2.9 percent in October.

Month-on-month, consumer prices were up 0.7 percent, in contrast to the 0.2 percent drop in the previous month. The flash estimate showed a monthly inflation of 0.6 percent.

EU harmonized inflation advanced to 3.2 percent in October from 2.9 percent a month ago. The annual rate was revised up from 3.1 percent.

On a monthly basis, consumer prices gained 0.9 percent but slower than the 1.3 percent increase in September. The rate was revised from 0.8 percent.

Data showed that energy prices surged 24.9 percent annually and prices of services related to transport climbed 2.4 percent.

Core inflation, which excludes energy and unprocessed food, rose marginally to 1.1 percent from 1 percent in the prior month.

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