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Italy PPI Inflation Lowest In 11 Months


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Italy’s producer price inflation eased sharply in October to the lowest level in nearly a year, mainly due to a steep fall in prices in the electricity supply and mining sectors, figures from the statistical office Istat showed on Tuesday.

The producer price index climbed 28.0 percent year-over-year in October, well below the 41.7 percent surge in September, the statistical office in Rome said.

Prices for energy and intermediate goods rose the most by 65.1 percent and 16.1 percent, respectively, in October.

Domestic market producer prices grew 33.7 percent in October compared to last year and those in the foreign market rose 11.3 percent.

On a monthly basis, producer prices decreased 3.3 percent, reversing a 2.7 percent rise in September.

Separately, the statistical office showed that industrial turnover fell 1.2 percent month-on-month in September, in contrast to a 3.4 percent rise in August.

On an annual basis, growth in industrial sales eased to 18.0 percent in September from a 22.9 percent spike in August.

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