Italy: Inflation ticks up in November on higher food prices
According to provisional data released by the National Statistical Institute (ISTAT) on 30 November, consumer prices dropped 0.1% month-on-month in November, following October’s flat reading. The figure reflected lower prices for services related to recreation, and for services related to transport being only partially offset by higher prices for unprocessed food. Meanwhile, inflation came in at 1.7% in November, marginally above October’s 1.6% print, and the highest print since April 2017.
Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, dropped 0.2% month-on-month in November, a smaller fall than October’s 0.4% decline. Meanwhile, core inflation inched up to 0.9% in November from October’s 0.8%, and harmonized inflation remained unchanged at October’s 1.7%.