Consumer prices in Italy increased 1.0 percent year-on-year in October of 2017, compared to 1.1 percent rise in the previous month and matching preliminary estimates. It was the lowest inflation rate since January, mainly due to a slowdown in prices of education and services, after students from low-income households started being exempted from paying the annual university fee.
Year-on-year, prices decreased significantly for education (-16.1 percent vs -0.8 percent in September). Also, cost advanced less for transport (2.4 percent vs 2.6 percent); restaurants and hotels (1.7 percent vs 2.1 percent); clothing and footwear (0.2 percent vs 0.3 percent) and miscellaneous goods and services (0.6 percent vs 0.8 percent).
Meanwhile, prices rose faster for food and non-alcoholic beverages (2.1 percent vs 1.4 percent) and housing and utilities (1.8 percent vs 1.7 percent).
Annual core inflation rate, which excludes energy and unprocessed food eased to 0.5 percent from 0.7 percent in the previous month. Excluding only energy, the inflation was steady at 0.8 percent.
On a monthly basis, consumer prices went down 0.2 percent, compared to a 0.3 percent fall in September.
The harmonized index was unchanged on the month (1.8 percent in September) and inched up 1.1 percent on the year (1.3 percent in September).