Italian Inflation Rate Confirmed at 0.1% in November


Consumer prices in Italy increased by 0.1 percent year-on-year in November of 2015, compared to 0.3 percent in the previous month and matching preliminary estimates. It was the lowest level since May this year, as cost of food, accommodation, health and leisure activities rose at a slower pace while prices of housing and transportation continued to drag the inflation down.

Year-on-year, cost of food and non-alcoholic beverages went up by 1.5 percent (from +1.9 percent in October), as unprocessed food prices eased (+3.2 percent from +4.1 percent); prices of restaurants and hotels rose by 0.9 percent (from +2.1 percent); health cost grew 0.4 percent (from +0.5 percent); and prices of recreation and culture increased by only 0.1 percent (from +0.3 percent). Meanwhile, cost of housing and utilities declined by 0.4 percent, the same pace as in the previous month; and transport prices dropped 2.8 percent, easing from a 3.3 percent decrease in October, due to a slowdown in the fall in prices of non-regulated energy (-11.2 percent, from -12.7 percent in October).

Additional upward pressure came from: miscellaneous goods and services (+0.2 percent); furnishings and household equipment (+0.4 percent); and clothing and footwear (+0.5 percent).

Annual core inflation rate (excluding energy and unprocessed food) was recorded at 0.7 percent, compared to 0.8 percent in the previous month.

On a monthly basis, consumer prices dropped 0.4 percent, following a 0.2 percent increase in October and matching first estimates, mainly due to lower prices of recreational, cultural and personal care (-1.6 percent), restaurants and hotels (-2.2 percent) and services related to transport (-1.2 percent); These decreases were partially mitigated by increases in food prices for unprocessed food (+0.7 percent).

Harmonised consumer prices increased by 0.2 percent year-on year while fell 0.4 percent on a monthly basis.

Italian Inflation Rate Confirmed at 0.1% in November


Istat | Joana Ferreira | joana.ferreira@tradingeconomics.com
12/14/2015 9:47:20 AM