Italy Inflation November 2016


Italy: Inflation resurfaces in November

According to provisional data released by the National Statistical Institute (Istat), consumer prices in Italy fell 0.1% over the previous month in November, mirroring October’s reading. The figure mainly reflected lower prices for services related to recreation and hotels as well as for transport. Inflation came in at 0.1% in November, rebounding from October’s 0.2% fall in consumer prices.

Core consumer prices, which excludes more volatile categories such as unprocessed food and energy, dropped 0.3% in November on a monthly basis, which represented a slightly larger drop than October’s 0.2% fall. Core inflation was 0.4% in November, up from October’s 0.2%—the lowest result on record. Finally, harmonized inflation came in at 0.1%, which contrasted October’s 0.1% decline in harmonized consumer prices.

FocusEconomics Consensus Forecast panelists expect inflation to stay flat in 2016, which is unchanged from last month’s projection. For 2017, panelists expect inflation to average 1.0%, which is also unchanged from last month’s forecast.

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Italy Inflation Chart

Italy Inflation November 2016

Note: Year-on-year and month-on-month var. of consumer price index in %.
Source: National Statistical Institute (Istat).

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