Italy: Harmonized inflation falls to over two-year low in October
Harmonized inflation dropped to 1.9% in October, following September’s 5.6%. October’s reading marked the weakest inflation rate since July 2021. The result was driven by moderating price pressures for food and non-alcoholic beverages and easing price pressures for housing and utilities. Moreover, prices for recreation grew at a more subdued pace.
In addition, the trend pointed down, with annual average harmonized inflation coming in at 7.9% in October (September: 8.8%). Meanwhile, consumer price inflation fell to 1.7% in October, from the previous month’s 5.3%.
Finally, harmonized consumer prices increased 0.07% over the previous month in October, slowing down from September’s 1.74% increase. October’s result marked the weakest reading since July.