Italy: Inflation edges down in November
November 29, 2013
According to provisional data for November, consumer prices fell 0.4% over the previous month. The reading was below the 0.2% fall recorded in October. November's drop was driven by lower prices for transportation and accommodation. Annual inflation fell from 0.8% in October to 0.6% in November, marking the lowest level since October 2009.
The core inflation index, which excludes more volatile categories such as unprocessed food and energy, edged down from a flat reading in October to a 0.2% fall in November. Annual core inflation inched up from a 1.2% increase in October to a 1.3% rise in November. Finally, annual HICP inflation averaged 1.4% in November, which was down from the 1.6% recorded in October.
FocusEconomics Consensus Forecast panelists expect inflation to average 1.4% in 2013, which is unchanged from the previous month's projection. For 2014, panelists expect inflation to average 1.4%, which is down 0.1 percentage points from last month's projection.
Author: Armando Ciccarelli, Head of Data Solutions