Italy: Inflation comes in at highest level since August 2008 in December
Consumer prices increased 0.38% in December over the previous month, which was below the 0.57% rise recorded in November. December’s result marked the weakest reading since September. Looking at the details of the release, prices for food and non-alcoholic beverages rose at a slower pace in December. In addition, prices for utilities grew at a more subdued pace. However, recreation and culture returned to growth following the previous month’s decline and prices for transportation increased at a faster pace.
Inflation came in at 3.9% in December, up from November’s 3.7%. December’s result represented the highest inflation rate since August 2008. Meanwhile, the trend pointed up, with annual average inflation coming in at 1.9% in December (November: 1.5%). Finally, harmonized inflation rose to 4.2% in December, from the previous month’s 3.9%.