Italian inflation rises to 0.9% in October, below eurozone average

According to preliminary estimates, the annual inflation rate in Italy increased to 0.9% in October 2024, up from 0.7% in September, falling short of market expectations of 1%.

Italian inflation rises to 0.9% in October, below eurozone average

The data indicated that Italian inflation remained significantly below the Eurozone average, contributing to the rate cuts implemented by the ECB in recent meetings. Food inflation surged, with prices for unprocessed food rising to 3.3% (up from 0.3% in September) and processed food increasing to 2% (from 1.5%). Transportation inflation rose to 2.8% compared to 2.4%, while non-regulated energy prices decreased slower, falling by 10.2% (compared to -11%), affecting fuel costs.

Regulated energy inflation drops to 2%, core inflation steady at 1.8%

Meanwhile, base effects caused regulated energy inflation to drop significantly to 2% from 10.4%. Core inflation remained stable from the previous month at 1.8%, and the Italian CPI was unchanged month-over-month.