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EUR Italian Prelim CPI m/m, Oct 30, 2024

Italian Inflation Stays Low: Preliminary CPI Remains at -0.1%

October 30, 2024 saw the release of Italy's Preliminary Consumer Price Index (CPI) month-on-month (m/m), revealing a continued trend of deflation. The index came in at -0.1%, matching the forecast and staying consistent with the previous reading of -0.2%. While the low figure signifies a subdued inflationary environment, its impact on the Eurozone remains low due to Italy's relatively small economic contribution.

Understanding the Data:

The Preliminary CPI m/m is a key economic indicator for Italy, offering a snapshot of price changes in goods and services consumed by Italian households. This specific release comes from Istat, the Italian national statistical institute, and is published monthly, typically around the end of the current month. It's important to note that there are two versions of the CPI released approximately 25 days apart: the Preliminary and the Final. While the Preliminary release is an early estimate, it carries less significance than the Final release due to Italy's smaller influence on the Eurozone.

Impact on the Euro:

The "Actual" figure being in line with the "Forecast" suggests that the market was already expecting this level of deflation. Consequently, there is likely to be limited impact on the Euro, particularly considering the muted influence of Italian CPI on the broader Eurozone.

What to Expect Next:

The next release of the Italian Prelim CPI m/m is scheduled for November 28, 2024. Investors and analysts will closely monitor this data to gauge whether the deflationary trend persists or if there are signs of an inflationary shift.

Key Takeaways:

  • Italy's Preliminary CPI m/m remained at -0.1% in October 2024, indicating continued deflation.
  • The impact of this data on the Eurozone is low due to Italy's smaller economic contribution.
  • The next release of the Italian Prelim CPI m/m is expected on November 28, 2024.

For investors and traders, this data point serves as a valuable input for understanding the overall economic health of Italy and its impact on the Eurozone.