1/11/2011 00:00:00
In October, according to preliminary estimates by Istat, the national index of consumer prices for the entire community (NIC), including tobacco, recorded an increase of 0.6% compared to September 2011 and 3.4% over the same month last year (it was 3.0% in September). The dimension of conjuncture growth also reflects the effects of the measures envisaged by the recent fiscal package (Law No. 148/2011) and, in particular, the increase of the ordinary VAT rate at 21%. Inflation for 2011 has reached 2.7%. Core inflation, calculated excluding energy and fresh food, rose to 2.6%, with an acceleration of two tenths of a percentage point in September (+2.4%). Excluding energy goods alone, the trend growth rate of consumer price index rose to 2.5% from 2.3% in September. The growth trend in commodity prices is 3.8%, with an acceleration of five tenths of a percentage point in September 2011 (+3.3%), while the prices of services down to 2.6%, from 2.7% the previous month. As a result of these developments, the inflation differential between goods and services increased by six tenths of a point compared to the month of September. In October, accelerated growth trends in consumer prices for almost all types of goods and services were detected. From the point of view of sectors, the main effect of support to the dynamics of the general index comes from the conjuncture increase by 1.4% of energy goods. Containment of the effects of inflation is due to the decrease on a monthly basis in the prices of services related to transport (-0.3%) as well as to the stable prices of Recreational, cultural and personal care. On the bases of preliminary estimates, the Harmonised Index of Consumer Prices (HICP) increased by 0.9% on a monthly basis and 3.8% on an annual basis, with an acceleration of two tenths of a percentage point in September 2011 (+3.6%).
