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Italy October EU-harmonised CPI revised to +12.6% y/y

Spread of the coronavirus disease (COVID-19) in Cisternino

(Reuters) - Italian EU-harmonised consumer prices (HICP) rose 3.8% month-on-month in October and were up 12.6% from the year earlier, official statistics agency ISTAT said on Wednesday, revising down preliminary data.

The preliminary estimate had pointed to +4.0% month-on-month and 12.8% year-on-year.

October's +12.6% annual rate was up from +9.4% in September.

The main domestic price index (NIC), rose 3.4% on the month and increased 11.8% annually - the highest since March 1984 - accelerating from an 8.9% annual increase in September.

Core inflation (net of fresh food and energy) was running at +5.7% year-on-year on the HICP index in October, up from +5.3% in the month before.

ISTAT gave the following details:

The EU-harmonised index (HICP):

Oct Sept Aug

Monthly change +3.8r +1.6 +0.9

Yr/yr inflation +12.6r +9.4 +9.1

Index (base 2015=100) 120.0r 115.6 113.8

The NIC index:

Monthly change +3.4r +0.3 +0.8

Yr-on-yr inflation +11.8r +8.9 +8.4

Index (base 2015=100) 118.1r 114.2 113.9

r=revised

(Reporting by Enrico Sciacovelli, editing Antonella Cinelli)