Italian consumer price index eases sequentially in October

Italian consumer price index dropped in October. Sequentially, the consumer price index dropped 0.1 percent, whereas it rose 0.2 percent year-on-year. The flash estimate was 0.3 percent.

The deceleration of the growth on annual basis all items index was mainly because of the widening of the fall of prices of regulated energy products, that was partly countered by the speed-up of price of services related to transport.

Core inflation, which excludes energy and unprocessed food, and inflation excluding energy came in at 0.7 percent.

The drop on monthly basis of all items index was essentially due to the fall, mainly due to seasonal factors, of prices of services related to transport and of services related to recreation, including repair and personal care, only partially countered by the fall of prices of regulated energy products and of non-regulated energy products.

The annual pace of change of prices of goods was -0.5 percent and that one of prices of services was 1.1 percent. Prices of grocery and unprocessed food was stable on monthly basis and rose by 0.5 percent on annual basis.

The Italian harmonized index of consumer price rose 0.2 percent sequentially.