Italy Inflation November 2017


Italy: Inflation confirmed to have declined further in November

December 14, 2017

According to revised data released by the National Statistical Institute (Istat) on 14 December, consumer prices dropped 0.2% on a monthly basis in November, matching October’s decrease and confirming the preliminary estimate. The figure mainly reflected lower prices for services related to recreation, including repair and personal care, and to transport that partly reflected seasonal factors. Meanwhile, inflation came in at a 11-month low of 0.9% in November, decelerating further from the previous month’s 1.0% print.

Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, fell 0.4% in November month-on-month, mirroring October’s drop. Core inflation was 0.4% in November, slightly below October’s 0.5% and the lowest reading in one year. Finally, harmonized inflation came in at 1.1%, mirroring October’s print.

FocusEconomics Consensus Forecast panelists expect inflation of 1.4% in 2018, which is unchanged from last month’s projection. For 2019, panelists expect inflation to average 1.5%.

Author: Massimo Bassetti, Economist

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Italy Inflation Chart

Italy Inflation November 2017 1

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

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