(RTTNews) - The Italian consumer price index or CPI including tobacco rose at a slower pace of 3.8% year-on-year in September, compared to a 4.1% rise in August, a preliminary report from the ISTAT showed Tuesday. The growth pace was slower than the expected increase of 4%.

On a monthly basis, the CPI fell 0.3% in September, reversing a 0.1% rise recorded in August. Meanwhile, the consensus forecast was for a flat growth.

The harmonized index of consumer prices, or HICP, rose 0.3% month-on-month in September, slower than the 0.8% rise predicted. At the same time, it picked up the growth momentum from a zero growth recorded in August.

Compared to the previous year, the HICP grew 3.7% in September from the previous year, at a slower pace August’s 4.2% increase.

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