In October, inflation soared to 3,4%, an increase of 0,6% from the previous month. It is the highest cyclical growth since June 1995 and the highest absolute value since October 2008.
This was communicated by Istat which today released the provisional data on inflation in the tenth month of the year. Above all, the increase in the ordinary VAT rate to 21%, in force since 17 September last, pushed the consumer price index up.
The inflation acquired for 2011 is equal to 2,7%. Core inflation, calculated net of energy goods and fresh foodstuffs, rose to 2,6%, with an acceleration of 0,2% compared to September (+2,4%). The harmonized index of consumer prices (Ipca) recorded an increase of 0,9% on a monthly basis and 3,8% on an annual basis, (+0,2% compared to September 2011).
