In October 2023, Italy recorded a significant change in the national consumer price index. According to data released by Istat, the index, excluding tobacco, showed no change compared to the previous month, but an increase of 0.9% on an annual basis, up from 0.7% in September.
Istat observed that “inflation rises to +0.9%, albeit in a context of economic stability”.
A notable aspect of the analysis is the acceleration in prices for food and household and personal care products. This set of products, known as the shopping cart, saw a growth of 2% on an annual basis, an increase from 1% recorded in September. Furthermore, the prices of high-frequency products also showed a significant increase, going from +0.5% to +1.0%. Istat slightly revised downwards the preliminary estimate for the shopping cart, which was initially expected at +2.2%.
Consumer price trends are a crucial indicator for understanding the economic health of the country. With inflation showing signs of recovery and Italian families continuing to face increases in everyday costs, the economic environment remains one to monitor closely. The future of inflation in Italy will depend on multiple factors, including the monetary policies adopted by the European Central Bank and the global dynamics that influence the local economy. While current data show cyclical stability, it will be crucial to observe how these trends will evolve in the coming months and what measures will be implemented to support consumers and stimulate economic growth.
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