Italy: Inflation inches down in November
December 12, 2013
According to final data for November, consumer prices fell 0.3% over the previous month. The reading was below the 0.2% fall recorded in October and was driven by lower prices for transportation and accommodation. Annual inflation inched down from 0.8% in October to 0.7% in November, marking the lowest level since November 2009. The core inflation index, which excludes more volatile categories such as unprocessed food and energy, dropped 0.3% over the previous month in November (October: 0.0% month-on-month). Annual core inflation was unchanged at October's 1.2%. 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 1.3% in 2013, which is down 0.1 percentage points from the previous month's projection. For 2014, panelists expect inflation to average 1.3%, which is also down 0.1 percentage points from last month's projection.
Author: Armando Ciccarelli, Head of Data Solutions