The decline was led by a fall in energy products (-3.6 percent from -3.4 percent in September), as a larger decline of prices of regulated energy (-6 percent from -3.8 percent) was partly offset by lower decline of non-regulated energy products (-0.8 percent from -2.7 percent). Additional downward pressure came from unprocessed food (-0.4 percent from +0.4 percent in September) while cost of services related to recreation, including repair and personal care showed no growth (from +0.6 percent).
Annual core inflation rate, which excludes energy and unprocessed food, fell to a record low of 0.2 percent compared to 0.5 percent the previous month.
On a monthly basis, consumer prices were flat, following a 0.2 percent drop in September and below market expectations of 0.2 percent gain. Higher prices of non-regulated energy products (+1.1 percent) were offset by decreases of those of services related to transport (-1.2 percent) and services related to recreation, including repair and personal care (-0.4 percent).
The harmonized index is expected to fall by 0.1 percent on the year and rose by 0.2 from the previous month.