Item stats have been slightly off since Moria. I was hoping the latest update would fix it, but all the items I checked are still show 1-2 points less on base stats, and larger chunks on the bigger numbers like Morale. Here are a few examples:

http://lorebook.lotro.com/wiki/Item:Amber_Ring
http://lorebook.lotro.com/wiki/Item:Silver_Spoon
http://lorebook.lotro.com/index.php/Item:Floral_Earring
http://lorebook.lotro.com/index.php/...Signet_Pendant
http://lorebook.lotro.com/index.php/Itemiamond_Stud