Italy Inflation December 2016


Italy: Inflation hits highest rate since May 2014 in December

January 16, 2017

According to revised data released by the National Statistical Institute (Istat), consumer prices in Italy grew 0.4% from the previous month in December, contrasting November’s 0.1% drop and marking the highest result since February 2015. The figure mainly reflected higher prices for services related to transport, non-regulated energy and for unprocessed food. Inflation came in at 0.5% in December, the highest reading since May 2014, accelerating from November’s 0.1% reading.

Core consumer prices, which excludes more volatile categories such as unprocessed food and energy, increased 0.3% in December on a monthly basis, which contrasted November’s 0.3% fall. Core inflation was 0.6% in December, up from November’s 0.4%. Finally, harmonized inflation came in at 0.5%, up from November’s 0.1% print and the highest reading since April 2014.

FocusEconomics Consensus Forecast panelists expect inflation of 1.0% in 2017, which is up 0.1 percentage points from last month’s projection. For 2018, panelists expect inflation to average 1.2%.

Author: Massimo Bassetti, Economist

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Italy Inflation Chart

Italy Inflation December 2016

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

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