Italy's consumer price index rose in October

According to the report from Istat, in October 2020 the rate of change of Italian consumer price index for the whole nation (NIC) was +0.2% on monthly basis and -0.3% on annual basis (from -0.6% in September), confirming the flash estimate.

The halving of the decrease of consumer price indices was mainly due to the speed-up of the growth of the the prices of Unprocessed food (from +2.7% to +3.5%) and to the reduction of the drop of those of Regulated energy products (from -13.6% to -7.2%). On the contrary the decrease of the prices of Non-regulated energy products was wider than in September (from -8.2% to -9.4%). 

Core inflation (excluding energy and unprocessed food) was +0.2% (up from +0.1% in the previous month) and inflation excluding energy was +0.5% (up from +0.2%).

The increase on monthly basis was mainly due to the of prices of Regulated energy products (+10.5%) and, to a lesser extent, of prices of Unprocessed food (+0.9%), only partially offset by the decrease of those of Services related to transport (-1.1%).

In October the rate of change of the Italian harmonized index of consumer prices (HICP) was +0.6% with respect to the previous month and -0.6% on annual basis (from -1.0%), confirming the flash estimate.