29.09.202310:18:00UTC+00Italy Inflation Eases Slightly To 5.3%, Lowest In 20 Months

Italy's consumer price inflation eased further in September to the lowest level in more than one-and-a-half years, in line with expectations, preliminary data from the statistical office ISTAT showed on Friday.

Consumer price inflation eased to 5.3 percent in September from 5.4 percent in August.

Further, this was the weakest inflation since January 2022, when prices had risen 4.8 percent.

Data showed that the slowdown was mainly driven by the deceleration in the cost of non-regulated energy goods, processed food, and durable goods, data said.

On a monthly basis, consumer prices moved up 0.2 percent in September, versus an expected increase of 0.1 percent.

Core inflation, which excludes energy and fresh food, slowed to 4.6 percent from 4.8 percent in the previous month.

Inflation, based on the harmonized index of consumer prices, stood at 5.7 percent in September, up from 5.5 percent in the previous month. Meanwhile, it was expected to ease to 5.3 percent. Month-on-month, the HICP posted an increase of 1.7 percent.