- Prior -0.2%
- 1.8% vs 1.8% exp m/m. Prior -0.2% (very big jump on the monthly)
- CPI -0.1% as exp & unch y/y
- -0.3% vs -0.3% exp m/m. Prior +0.2%
The month on month numbers look to be a big skew from clothes prices after summer discounting which is not picked up in the CPI numbers as ISTAT’s NIC index excludes items affected by seasonal discounts.
Still, that’s the second straight month of deflation for the Italians and given the rest of the data just now, if you can find a reason to buy the Euro right now you’re a better person than me.
Italian HICP y/y 30 09 2014
