The slowdown in energy prices (oil, gas and fuel), inflation slows in September in Italy and in the Eurozone. According to Istat provisional data, in September the Nic consumer price index fell by 0,3% on a quarterly basis while it rose by 0,3% over the same period of the previous year. Figures in line with expectations while the Ipca (the index harmonized for Europe) rose by 1,6% on month (this is the largest change since last March's +2,1%) and by 0,2 % trend (consensus +0,3%). Inflation acquired for 2015 drops to +0,1%.
In the Eurozone, again in September, the annual inflation rate goes back below zero. Eurostat's flash estimate points to -0,1%, down from +0,1% in August. The last time the inflation rate was below zero was last March (-0,1%). As regards the main components, food, alcohol and tobacco are expected to have the highest rate of price increase (1,4% compared to 1,3% in August), followed by services (1,3% compared to 1,2% in August). 0,3% in August), non-energy industrial goods (0,4% compared to 8,9% in August), energy (-7,2% compared to -XNUMX% in August). As a result, the sub-zero drop is entirely due to the drop in energy prices.
Back to Italy,”the slight rise in inflation is mainly attributable to the acceleration of the growth trend in unprocessed food prices (+3,4%, from +1,9% in August) and to the inversion of the trend in those of related Services to transport (+0,8%, from -0,1% in the previous month). These increases are partly offset by the further fall in the prices of unregulated energy (-12,8%, from -10,4% in August)”, explains Istat. Unregulated energy sources are essentially oil, gas and fuels.
So much so that core inflation, calculated net of energy goods and fresh food, rises to 0,8%. AND net of energy goods alone, it rises to +0,9%.
