Final Italian HICP consumer prices to print at 0.2% yoy

In Italy, energy again proved to be the biggest drag, falling further from -6.4% yoy in August to -7.6% yoy in September, cutting 12bp from the headline. 

"The final Italian HICP inflation is expected to confirm the flash estimate of 0.2% yoy in September", forecasts Societe Generale. 

Food prices increased from 1.3% yoy to 1.7% yoy, adding 8bp to the headline. The core component fell from 1.0% yoy in August to 0.7% yoy in September led by non-energy industrial goods falling from 0.6% yoy to 0.3% yoy (cutting 8bp), while services increased from 0.7% yoy to 0.9% yoy (adding 9bp).

"Looking ahead, Italian HICP inflation is expected to average 0.2% in 2015 and 1.1% yoy in 2016. The core component should average 0.8% in 2015 and 1.2% in 2016", added Societe Generale.