2017.10.3108:04:00UTC+00Italy Inflation Eases Unexpectedly In October

Italy's consumer price inflation eased unexpectedly in October, though slightly, preliminary figures from the statistical office Istat showed Tuesday.

The consumer price index climbed 1.0 percent year-over-year in October, just below the 1.1 percent rise in September. Meanwhile, economists had expected the inflation to accelerate to 1.3 percent.

Excluding energy and unprocessed food, core inflation moderated to 0.5 percent in October from 0.7 percent in the prior month.

On a monthly basis, consumer prices went up 0.2 percent, slightly above the 0.1 percent increase economists had expected.

The EU measure of inflation, based on the Harmonized Index of Consumer Prices, rose at a slower pace of 1.1 percent annually in October, following a 1.3 percent rise in September.

The rate was forecast to remain stable at 1.3 percent.

Month-on-month, the HICP showed no variations in October, while prices expected to increase by 0.2 percent. Separately, the statistical office revealed that producer prices increased 0.3 percent monthly and by 2.4 percent annually in September.