Italy Inflation December 2020


Italy: Pace of decline in annual prices moderates in December

January 7, 2021

Consumer prices increased 0.3% month-on-month in December, contrasting November’s 0.1% decrease. The figure mainly reflected higher prices for non-regulated energy products and services related to transport.

Meanwhile, prices were 0.1% lower from the same month of the previous year, following November’s 0.2% year-on-year drop.

Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, rose 0.3% from the previous month in December, contrasting November’s 0.2% fall. Meanwhile, core inflation rose from 0.4% in November to 0.7% in December, while harmonized prices fell 0.3% compared the same period of 2019, matching November’s drop.

FocusEconomics panelists expect harmonized inflation to average 0.6% in 2021, which is down 0.2 percentage points from the previous month’s projection. For 2022, panelists expect harmonized inflation to average 1.0%.

Author: Massimo Bassetti, Senior Economist

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Italy Inflation Chart

Italy Inflation December 20 20

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

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