Financial News: Italy Inflation Rises To 0.9% In October, Less

Italy Inflation Rises To 0.9% In October, Less Than Forecast

10/31/2024 - 08:09:00 (RTTNews)

(RTTNews) - Consumer price inflation in Italy increased somewhat in October from a 9-month low in September, provisional data from the statistical office showed on Thursday.

Consumer price inflation rose to 0.9 percent in October from 0.7 percent in September. The expected inflation rate was 1.0 percent.

The slight acceleration in inflation was largely due to price changes in products. The annual price growth in processed food products quickened to 2.0 percent from 1.5 percent, and that for unprocessed food increased to 3.3 percent from 0.3 percent.

On the other hand, costs for regulated energy products grew at a slower pace of 2.0 percent annually versus a 10.4 percent surge a month ago.

Excluding energy and fresh food, core inflation held steady at 1.8 percent.

On a monthly basis, consumer prices remained flat in October, while prices were expected to fall by 0.1 percent.

Inflation, based on the harmonized index of consumer prices, climbed to 1.0 percent in October from 0.7 percent in the previous month. Monthly, the HICP moved up 0.3 percent.

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