Italy October EU-harmonised CPI Slowing To 1.9 Y y Below Forecasts

ROME, Oct 31 (Reuters) - Italian EU-harmonised consumer prices (HICP) rose a preliminary 0.2% month-on-month in October, with annual inflation slowing to 1.9% from 5.6% in September, data showed on Tuesday.
The 1.9% annual rate was the lowest since July 2021. The HICP was below the median forecast of a 2.3% year-on-year rise, in a Reuters survey of 13 analysts. Official statistics agency ISTAT also reported that the main domestic price index (NIC), was down 0.1% on the month and up 1.8% annually in October, following a 5.3% annual rate in September.

Core inflation (net of fresh food and energy) was running at 4.5% year-on-year on the HICP index in October, công ty xây dựng biên hòa down from 4.9% the month before. ISTAT gave the following preliminary breakdown: The EU-harmonised index (HICP): Oct Sep Aug Monthly change 0.2 1.7 0.2 Yr/yr inflation 1.9 5.6 5.5 Index (base 2015=100) 122.3 122.1 120.1 The NIC index: Monthly change -0.1 0.2 0.3 Yr-on-yr inflation 1.8 5.3 5.4 Index (base 2015=100) 120.2 120.3 120.1 ISTAT gave the following sector-by-sector breakdown for the HICP in October: Sector m/m yr/yr Food 0.1 6.9 Alcoholic drinks, tobacco -0.1 3.1 Clothing 3.1 2.3 Housing, electricity, fuel 0.3 -17.7 Domestic goods 0.3 4.1 Health spending 0.2 2.7 Transport -0.3 5.3 Communications -0.9 -0.5 Recreation -0.6 4.4 Education 0.7 2.0 Hotels, restaurants -0.9 6.2 Other goods, services 0.3 3.9 (Reporting by Antonella Cinelli, editing by x)