According to Istat, in October, the national index of consumer prices for the entire community (NIC), including tobacco, recorded an increase by 0.6% compared to September 2011 and by 3.4 % over the same month last year (it was 3.0% in September). The final data confirm preliminary estimates. The size of the conjuncture rise in consumer prices also reflected the effects of the measures envisaged by the recent fiscal package (Law No. 148/2011) and, in particular, the increase of the ordinary VAT at 21%. Inflation for 2011 has gained 2.7%. Core inflation, calculated excluding energy and fresh food, rose to 2.5% from 2.4% in September. Excluding energy goods alone, the trend growth rate of consumer price index rose to 2.4% (it was 2.3% in September).
The growth trend in commodity prices is 3.9%, with an acceleration of six-tenths of a percentage point in September 2011 (+3.3%), while for the prices of services it went down to 2.6% (from 2.7% the previous month). As a result of these developments, the inflation differential between goods and services increased seven-tenths of a point compared to September. In October, there were trends to accelerated growth in consumer prices for almost all types of goods and services. From the point of view of sectors, the main effect of support to the dynamics of the general rise comes from the conjuncture rise of 1.8% of energy goods prices. The prices of most frequently purchased products increased by 0.7% on a monthly basis and by 4.1% on an annual basis (3.7% in September). The Harmonised Index of Consumer Prices (HICP) increased by 0.9% on a monthly basis and by 3.8% on an annual basis, with an acceleration of two tenths of a percentage point compared to September 2011 (+3.6%). Again, the final figure confirms the preliminary estimate.
The national index of consumer prices for the families of workers and employees (WEF), net of tobacco, recorded an increase of 0.4% in terms of conjuncture and 3.2% in terms of trend.