Producer Prices in Italy
Italy - Producer Prices
Harmonized inflation inches down in November
Harmonized inflation came in at 12.5% in November, which was down from October’s 12.6% but exceeded market expectations. October's reading had marked the highest inflation rate since our current records began. Slower increases in prices of non-regulated energy products, unprocessed food and services related to transport more than offset a faster increase in prices of regulated energy products.
Annual average harmonized inflation rose to 8.0% in November (October: 7.3%). Meanwhile, consumer price inflation was stable at October’s 11.8% in November.
Finally, harmonized consumer prices increased 0.6% over the previous month in November, slowing from October's 3.8% rise.
Commenting on the release, Paolo Pizzoli, senior economist at ING, stated:
“Looking ahead, we suspect that the energy component might have reached its peak, but will remain exposed to the vagaries of administrative decisions. For instance, the current €0.30 rebate on fuels will be reduced to €0.18 from December, which will have an impact on the headline measure. More encouragingly, in October producer price inflation recorded a clear deceleration to 28% YoY from 41.7% in September, suggesting that price pressures in the pipeline started to finally cool down.”
FocusEconomics panelists see harmonized inflation averaging 6.0% in 2023, which is up 0.5 percentage points from the previous month’s estimate, and 2.1% in 2024.
Italy - Producer Prices Data
|Inflation (PPI, annual variation in %)||-2.7||-1.9||2.3||3.3||0.2|
5 years of economic forecasts for more than 30 economic indicators.
Italy Producer Prices Chart
Source: National Statistical Institute (ISTAT) and FocusEconomics calculations.
|Bond Yield||1.31||-0.40 %||Jan 01|
|Exchange Rate||1.12||0.65 %||Dec 31|
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December 5, 2022
Harmonized inflation came in at 12.5% in November, which was down from October’s 12.6% but exceeded market expectations.
December 2, 2022
Growth cooled in the third quarter, with GDP increasing 0.5% quarter on quarter, confirming the preliminary estimate and coming in below the second quarter’s 1.1% expansion.
December 1, 2022
The S&P Global Manufacturing Purchasing Managers' Index (PMI) rose to 48.4 in November from October's 46.5.
November 25, 2022
Business confidence came in at 104.7 in November, up from October's 106.4.
November 25, 2022
Consumer confidence jumped to 98.1 in November from October's 90.1.