ROME (ITALPRESS) – According to ISTAT’s preliminary estimates, in October 2024, the national consumer price index for the entire community (NIC), before tobacco products, recorded a zero change on a monthly basis and increased by 0.9 percent year-on-year, from +0.7 percent in the previous month.The slight acceleration in the inflation rate mainly reflects the trend in the prices of Food, both processed (from +1.5 percent to +2.0 percent) and unprocessed (from +0.3 percent to +3.3 percent) and, to a lesser extent, the easing of the decline in the prices of Unregulated Energy Goods (from -11.0 percent to -10.2 percent). Support for the price dynamics was also due to an increase in the pace of growth in the prices of Transport-related Services (from +2.4% to +2.8%). These effects were only partly offset by the sharp deceleration in the prices of Regulated Energy Goods (from +10.4% to +2.0%) and the prices of Recreational, Cultural and Personal Care Services (from +4.0% to +3.6%).In October, “core inflation,” net of energy and fresh food, remained stable at +1.8 percent and that net of energy goods alone accelerated to +1.9 percent (from +1.7 percent).The trend in the prices of goods declined less than in the previous month (from -0.9 percent to -0.5 percent) and that of services decelerated (from +2.8 percent to +2.6 percent). The inflation differential between the services and goods sectors narrows to +3.1 percentage points (from +3.7 in September).The prices of Food, Household and Personal Care Goods accelerate on a trend basis (from +1.0% to +2.2%), as do those of high-frequency goods (from +0.5% to +1.0%).The conjunctural stability of the overall index is affected by the opposite dynamics of several components: on the one hand, the growth of prices Regulated energy goods (+5.2%), unprocessed (+2.7%) and processed food (+0.6%) and Miscellaneous services (+0.4%); on the other hand, the decrease in prices of Recreational, cultural and personal care services (-1.3%) and Unregulated energy goods (-1%).Acquired inflation for 2024 is +1.0 percent for the overall index and +2.0 percent for the core component.According to preliminary estimates, the Harmonized Index of Consumer Prices (HICP) rises by 0.3 percent on a monthly basis and 1.0 percent on an annual basis (accelerating from +0.7 percent in September). “In October, according to preliminary estimates, inflation rises again to +0.9 percent, albeit against a backdrop of cyclical stability. Sectoral trends appear, however, differentiated. In the food sector, the tendential dynamics of prices is accelerating (+2.4% from +1.1% in September), with effects that are manifested on the “shopping cart” (+2.2% from +1.0%) – Istat comments. On the contrary, the prices of Energy Goods accentuate the year-on-year decline (-9.1% from -8.7%), despite the cyclical increase in the regulated component. Finally, prices of recreational and cultural services (+3.6 percent from +4.0 percent) and transportation (+2.8 percent from +2.4 percent) are decelerating. In October, core inflation remains at +1.8 percent.”
– Photo Agency Photogram –
(ITALPRESS).
