Italy’s consumer prices rose unexpectedly in October, preliminary figures from the statistical office ISTAT showed Friday.
The consumer price index edged up 0.1 percent annually following 0.2 percent fall in September. Economists had forecast a 0.1 percent drop. The latest increase in prices was the first in three months.
Core inflation, which excludeds fresh food and energy prices, rose to 0.5 percent from 0.4 percent.
Month-on-month, consumer prices climbed 0.1 percent, also in contrast to expectations for a 0.1 percent drop. In September, prices rose 0.4 percent.
The harmonized index of consumer prices, which is meant for EU comparison, rose 0.2 percent annually in October, rebounding from a 0.1 percent drop in September. Economists had forecast a 0.1 percent fall.
On a monthly basis, the HICP rose 0.3 percent in October, which was faster than the 0.1 percent gain predicted. In September, prices climbed 1.9 percent.
Separately, ISTAT reported that overall producer prices declined 1.7 percent annually in September, same as in August. Compared to the previous month, prices remained flat, same as in August.
Producer prices on the domestic market decreased 2 percent annually after a 2.1 percent fall in August. Month-on-month, domestic producer prices edged up 0.1 percent, reversing a 0.1 percent drop in the previous month.
The material has been provided by InstaForex Company – www.instaforex.com