Financial News: Italy Inflation Rises Slightly As Estimated, Trade Surplus

Italy Inflation Rises Slightly As Estimated, Trade Surplus Grows

11/15/2024 - 05:53:00 (RTTNews)

(RTTNews) - Consumer price inflation in Italy increased somewhat as initially estimated in October, while trade surplus grew in September as imports fell faster than exports, separate reports from the statistical office showed on Friday.

Consumer price inflation rose to 0.9 percent in October from 0.7 percent in September. That was in line with the flash data published on October 31.

The annual price growth in processed food products rose to 1.7 percent from 1.5 percent, and that for unprocessed food increased to 3.4 percent from 0.3 percent.

On the other hand, costs for regulated energy products grew at a slower pace of 3.9 percent annually versus a 10.4 percent surge a month ago.

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

On a monthly basis, consumer prices remained flat in October, in line with flash data.

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. There was no change in figures compared to the earlier estimate.

During September, the trade surplus of the country was EUR 2.58 billion, up from EUR 2.13 billion in the corresponding period last year. In August, the surplus was EUR 1.33 billion.

Both exports and imports declined by 2.2 percent and 3.2 percent, respectively, from last year.

The surplus in non-energy trade decreased from EUR 7.78 billion last year to EUR 6.48 billion in September 2024.

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