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Financial News: Italy Inflation Rises Slightly Less Than Estimated

Italy Inflation Rises Slightly Less Than Estimated

11/16/2022 - 06:16:00 (RTTNews)

(RTTNews) - Italy's consumer prices rose less than initially estimated in October but remained the highest since 1984, revised data from the statistical office ISTAT showed on Wednesday. Consumer price inflation rose to 11.8 percent in October from 8.9 percent in September. The rate was revised down from 11.9 percent. Nonetheless, inflation was the strongest since March 1984.

Compared to September, consumer prices were up 3.4 percent instead of 3.5 percent estimated on October 28. Prices had advanced 0.3 percent in September.

Excluding energy and unprocessed food, core inflation advanced to 5.3 percent from 5.0 percent a month ago, data showed.

EU harmonized inflation increased to 12.6 percent in October from 9.4 percent in the previous month. However, this was also below the flash estimate of 12.8 percent.

On a monthly basis, the harmonized index of consumer prices moved up 3.8 percent versus the flash estimate of 4.0 percent and September's 1.6 percent rise.

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