Italy Inflation Accelerates Less Than Expected - ConsultFX

Italy Inflation Accelerates Less Than Expected

Italy's consumer price inflation accelerated less-than-expected in October, preliminary data from the statistical office ISTAT showed on Wednesday.

The consumer price index rose 1.6 percent year-on-year following a 1.4 percent increase in September. Economists had forecast 1.8 percent gain.

Inflation was driven by a surge in energy inflation to 9.3 percent from 5.6 percent.

Core inflation, which excludes the volativel energy and fresh food prices, climbed to 0.8 percent from 0.7 percent.

Compared to the previous month, the CPI was unchanged in October after a 0.5 percent decline in September. Economists were looking for a 0.4 percent increase.

The harmonized index of consumer prices, or HICP, rose 1.7 percent year-on-year after a 1.5 percent increase in the previous month. The figure was in line with economists' expectation.

On a month-on-month basis, the EU measure of inflation climbed 0.2 percent from September, when it rose 1.7 percent. Economists had predicted a 0.5 percent increase.

ISTAT is set to release the detail data for October inflation on November 16.

The material has been provided by InstaForex Company -