Italian Producer Deflation Picks Up

Industrial producer prices in Italy fell by 2.8% from the previous year in October of 2024, the sharpest decline in five months, and accelerating from the 2% decline from the previous month due to a momentary increase in the impact of base year effects.

Prices sank faster for energy (-10.6% vs -7% in September) due to their base effects, while deflation softened for intermediate goods (-0.2% vs -1.1%).

In turn, costs rebounded for capital goods producers (0.2% vs -0.2%) and accelerated for consumer goods producers (1.3% vs 0.9%).

On a monthly basis, producers costs rose by 0.7%.