Italy Inflation December 2019

Italy

Italy: Inflation rises in December

January 17, 2020

A second release revealed consumer prices rose 0.2% month-on-month in December, contrasting November’s 0.2% dip and matching the preliminary estimate. The figure mainly reflected higher prices for services related to transport and recreation—influenced by seasonal factors—and for unprocessed food. Meanwhile, inflation accelerated from 0.2% in November to 0.5% in the last month of the year.

Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, increased 0.1% from the previous month in December, contrasting November’s 0.4% decline. Meanwhile, core inflation eased from November’s 0.7% to 0.6%, and harmonized inflation grew from November’s 0.2% to 0.5%.

The Central Bank expects harmonized inflation of 0.9% in 2020 and 1.4% in 2021. FocusEconomics panelists also expect harmonized inflation to average 0.9% in 2020, which is down 0.1 percentage points from the previous month’s projection. For 2021, panelists expect harmonized inflation to average 1.2%.


Author: Massimo Bassetti, Economist

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Italy Inflation Chart


Italy Inflation December 2019 0

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


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