Italy: Inflation falls in December on slowing energy prices
According to a second estimate released by the National Statistical Institute (ISTAT) on 16 January, consumer prices dropped 0.1% month-on-month in December, a softer drop than November’s 0.2% decline. The figure confirmed the preliminary estimate and reflected a drop in prices for non-regulated energy products and processed food, only partially offset by higher prices for services related to transport. Meanwhile, inflation came in at 1.1% in December, well below November’s 1.6% print, and the lowest print since May.
Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, rose 0.2% month-on-month in December, contrasting November’s 0.4% decline. Meanwhile, core inflation inched down to 0.6% in December from November’s 0.7%, and harmonized inflation decreased to 1.2% from November’s 1.6%.