Italy: Inflation stable in December
January 14, 2014
According to final data for December, consumer prices rose 0.2% over the previous month. The reading contrasted the 0.3% fall recorded in November and marked the first increase following three consecutive periods of decline. The increase was driven by higher prices for transport as well as for food and non-alcoholic beverages. Annual inflation was stable at November's 0.7%.
The core inflation index, which excludes more volatile categories such as unprocessed food and energy, rose 0.1% over the previous month in December (November: -0.3% month-on-month). Annual core inflation slowed from November's 1.2% to 0.9%. Finally, annual HICP inflation averaged 1.3% in December, which was slightly below the 1.4% recorded in November.
FocusEconomics Consensus Forecast panelists expect inflation to average 1.2% in 2014, which is unchanged from the previous month's projection. For 2015, panelists expect inflation to average 1.3%.
Author: Armando Ciccarelli, Head of Data Solutions