According to the latest data Eurostat il inflation rate in the euro area it continues to grow. In October, the rate rose to 10,6% up compared to 9,9% in September but in line with expectations. In 2021 it stood at 4,1%. L'annual inflation of the European Union was of the11,5% in October, compared to 10,9% in September.
The main due to inflation yearly in the eurozone comes yearly fromthe energy (+4,44 percentage points), followed by food, alcohol and tobacco (+2,74 percentage points), services (+1,82 percentage points) e non-energy industrial goods (+1,62 percentage points).
Compared with September, annual inflation decreased in eleven Member States, remained stable in three and increased in thirteen.
In November, the consumption prices on a monthly basis (MoM) of the +1,5%, up on the previous +1,2% and in line with analysts' estimates.
Istat, Italy: exports grow but the trade deficit increases
In September theItalian export returned to growth, mainly driven by sales to i non-EU countries (+6%). According to the findings Istat, on an annual basis the growth in exports involves all sectors and almost all the main partner countries. Between main sectors which contribute most to the increase in exports are: pharmaceutical, chemical-medical and botanical items (+36,2%), machinery and equipment (+13,9%), base metals and metal products, excluding machines and plants (+15,5%) and food, beverages and tobacco (+19,8%).
THEimport, instead suffers a contraction (-2,2%), returning to April levels, due to the energy component. In September 2022, import prices grew by 0,1% on a monthly basis and by 20,3% on an annual basis (it was +21,5% in August).
Il trade deficit of the first nine months of the year exceeded i 31 billion euros conditioned by an energy deficit of over 85 billion. Negative also i intermediate goods with a deficit of almost 19 billion.
In September, the trade deficit amounted to -6.454 million euros, compared to a surplus of 1.440 million in the same month of 2021. The energy deficit reached 12.435 million in absolute value (it was -4.529 million a year earlier) but the surplus in the trade of non-energy products, equal to 5.982 million, is high and on the level of September 2021 (5.969 million).
