Italy's consumer price index (CPI) increased by 0.9% in October on a yearly basis, according to a preliminary report by Istat on Thursday. The reading came in lower than forecasts suggested but was above September's annual inflation of 0.7%. The CPI was unchanged month-on-month.

Processed and unprocessed food contributed to the "slight acceleration" of the annual CPI with a jump of 2.0% and 3.3%, respectively. Meanwhile, non-regulated energy products saw a less strong decline, landing at 10.2%. On the other hand, regulated energy goods advanced 2.0% and transport-related services jumped to 2.8%.

Core inflation remained stable at 1.8% in October.