Italy Inflation Eases To 1-year Low

(RTTNews) - Consumer price inflation in Italy softened in October to the lowest level in a year, provisional data from the statistical office showed on Friday.

Consumer price inflation slowed to 1.2 percent in October from 1.6 percent in September. Meanwhile, economists had expected inflation to remain stable at 1.6 percent.

The slowdown in inflation was largely due to a 0.8 percent fall in prices of regulated energy products, which grew 13.9 percent in September.  

The annual price growth in unprocessed food products softened to 1.9 percent from 4.8 percent, and inflation based on transport-related services slowed to 2.0 percent from 2.4 percent.

Excluding energy and fresh food, core inflation held steady at 2.0 percent.

On a monthly basis, consumer prices dropped 0.3 percent in October versus an expected fall of 0.1 percent.

Inflation, based on the harmonized index of consumer prices, eased to 1.3 percent in October from 1.8 percent in the previous month. Monthly, the HICP decreased 0.2 percent.