Istat has also revised downwards the first estimates on the prices of the so-called October shopping cart, which however remain at record levels ever recorded since 1983. In October, food, home and personal care products increased from +10.9% to +12.6% (+12.7% previous estimate) and those of high-frequency purchase products from +8 .4% to +8.9%. “It is necessary to go back to June 1983 (when they recorded a trend variation of + 13.0%) to find an annual growth in shopping cart prices higher than that of October 2022” comments Istat.
Istat revises its October estimates downwards, +11.8%. Acquired inflation for 2022 is 8%
Istat revises its preliminary estimates of inflation for the month of October downwards. The national consumer price index for the whole community (NIC), gross of tobacco, recorded an increase of 3.4% on a monthly basis and of 11.8% on an annual basis (from +8.9 % of previous month). The preliminary estimate was +11.9% year-over-year and +3.5% month-on-month. The inflation acquired for 2022 is equal to +8.0% for the general index and +3.7% for the core component.
“It is necessary to go back to March 1984 (when it was +11.9%) for a tendential variation of the general NIC index higher than +11.8%” comments Istat, releasing the final data on inflation for October”. acceleration of inflation on a trend basis is mainly due to the prices of energy goods (the growth of which passes from +44.5% in September to +71.1%) and regulated (from +47.7% to +51.6% ) both unregulated (from +41.2% to +79.4%), and to a lesser extent to the prices of food goods (from +11.4% to +13.1%), and processed (from +11, 4% to +13.3%) and unprocessed (+11.0% to +12.9%) and other goods (from +4.0% to +4.6%). of recreational, cultural and personal care services (from +5.7% in September to +5.2%).On an annual basis, the prices of goods accelerated (from +12.5% to +17.6%) , while those of services slow down slightly (from +3.9% to +3.8%); therefore, the negative inflationary differential between the latter and the prices of goods (from -8.6 in September to -13.8 percentage points). The cyclical increase in the general index is mainly due to the prices of unregulated energy goods (+28.3%), to regulated energy goods (+20.0%) and to a lesser extent to those of unprocessed food (+2 .4%), processed food (+1.6%), non-durable goods (+0.7%) and durable goods (+0.6%); on the other hand, mainly due to seasonal factors, the prices of recreational, cultural and personal care services (-0.7%) and transport-related services (-0.8%) fell.
“Core inflation”, excluding energy and fresh food, accelerates from +5.0% to +5.3% and that excluding energy alone from +5.5% to +5.9% . The harmonized index of consumer prices (IPCA) increased by 3.8% on a monthly basis and by 12.6% on an annual basis (from +9.4% in the previous month); the preliminary estimate was +12.8%. The national consumer price index for blue and white collar households (FOI), net of tobacco, recorded an increase of 3.3% on a monthly basis and of 11.5% on an annual basis.
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