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Press release

Consumer prices - October 2021

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According to preliminary estimates, in October 2021 the rate of change of the Italian consumer price index for the whole nation (NIC) was +0.6% on monthly basis and +2.9% on annual basis (from +2.5% in September).

The speed-up of the growth on annual basis of All-item index was still mainly due to the prices of Energy (from +20.2% to +22.9%), for both those of Regulated energy products (from +34.3% to +37.0%) and those of Non-regulated energy products (from +13.3% to +15.0%). Moreover, also prices of Processed food including alcohol (from +1.0% to +1.4%) and of Services related to transport sped up (from +2.0% to +2.4%).

Core inflation (excluding energy and unprocessed food) was +1.2% (from +1.0% in September) and inflation excluding energy was +1.1% (the same as in the previous month).

The increase on monthly basis was mainly due to the prices of Regulated energy products (+12.6%) and, to a lesser extent, of Non-regulated energy products (+1.0%) and of Unprocessed food (+0.7%), only partially offset by decrease of price of Services related to transport (-0.7%) and of Services related to recreation, including repair and personal care (-0.3%), largely affected by seasonal factors.

The annual rate of change of prices of Goods was +4.0% (from +3.6%) and that one of prices of Services was +1.3% (the same as in the previous month). As a consequence, the inflationary gap between Services and Goods was still negative and equal to -2.7 percentage points (-2.3 in September).

The rate of change of Prices of Grocery and unprocessed food was +0.5% on monthly basis and +1.2% on annual basis (up from +0.9% in the previous month).

According to preliminary estimates, in October 2021 the rate of change of the Italian harmonized index of consumer prices (HICP) was +0.8% on monthly basis and +3.1% on annual basis (from +2.9% in September).

Reference period: October 2021

Date of Issue: 29 October 2021

Next release: 16 November 2021

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