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Press release

Consumer prices (provisional data)

In September 2018, according to preliminary estimates, the Italian consumer price index for the whole nation (NIC) decreased by 0.4% on monthly basis and increased by 1.5% compared with September 2017 (+1.6% in August 2018).

The slight slowdown of the growth on annual basis of All items index was mainly due to prices of Unprocessed food (from +3.1% of the previous month to +2.4%) of Services related to transport (from +2.8% to +2.5%) and to prices of Non-regulated energy products (from +9.5% to +9.3%) whose growth was still wide.

Inflation excluding energy and unprocessed food (core inflation) was +0.8% (the same annual rate of change observed in August) and inflation excluding energy was +1.0% (down +1.1% of August).

The decrease on monthly basis of All items index was mainly due to the decrement of prices of Services related to transport (-4.9%) and, to a less extent, of Services related to recreation, including repair and personal care (-0,9%), mainly due to seasonal factors.

The annual rate of change of prices of Goods was +1.9% (down from +2.0% in August) and that one of prices of Services was +1.0% (down from +1.1% in the previous month). Therefore the inflationary gap between Services and Goods was still negative and equal to -0.9 percentage points (the same as in August).

Prices of Grocery and unprocessed food increased by 0.2% on monthly basis and by 1.9% on annual basis (down from +2.1% in the previous month).

In September 2018, according to preliminary estimates, the Italian harmonised index of consumer prices (HICP) increased by 1.8% compared with the previous month and by 1.6% with respect to September 2017 (the same annual rate of change observed in August).

The increase on monthly basis was mainly due to the conclusion of summer sales of Clothing and footwear (+33.1% compared with August 2018), which are not taken into account in the national index NIC.

Reference period: September 2018

Date of Issue: 28 September 2018

Next release: 16 October 2018

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