Italy Inflation Rate at 0.0% in December

Consumer prices in Italy are expected to remain unchanged in December of 2014 compared with a year earlier, following a 0.2 increase in November and driven down by lower cost of fuel.

Year-on-year, the biggest price decrease was reported for non-regulated energy products (-7.9 percent from -3.1 percent in November 2014) driven by a decline in fuel cost. Transport prices decreased 0.9 percent; cost of housing, water, electricity and gas fell 0.3 percent and food and non-alcoholic beverages went down 0.2 percent.  In contrast, prices rose for restaurants and hotels (+0.9 percent), furnishing and household equipment (+0.6 percent) and clothing and footwear (+0.2 percent). 

Excluding unprocessed food and energy, core inflation was recorded at 0.6 percent and excluding energy only, the inflation was 0.5 percent, down from 0.6 percent in November 2014.

The Italian harmonized index of consumer prices (HICP) declined by 0.1 percent with respect to December 2013, and was flat with respect to the previous month, according to preliminary estimates.

On a monthly basis, the consumer prices were unchanged, as a rise in transport cost (+0.4 percent) was offset by a 0.6 percent drop in prices of restaurants and hotels and a 0.1 percent fall in housing, water, electricity and gas.

Italy Inflation Rate at 0.0% in December

Istat | Carolina Cunha |
1/7/2015 11:24:15 AM