Italy: Inflation comes in at highest level since August 2008 in November
Consumer prices increased 0.66% over the previous month in November, a smaller increase than October’s 0.67% rise. Looking at the details of the release, prices for food and non-alcoholic beverages rose in November and prices for transportation rebounded. In addition, prices for utilities grew at a more subdued pace.
Inflation rose to 3.8% in November, following October’s 3.0%. November’s reading represented the highest inflation rate since August 2008. Meanwhile, the trend pointed up, with annual average inflation coming in at 1.5% in November (October: 1.2%). Finally, harmonized inflation rose to 4.0% in November, from October’s 3.2%.