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.