Italy Inflation Rate Revised Down to 1.6% in November

The annual inflation rate in Italy came in at 1.6 percent in November of 2018, the same as in the previous month and slightly lower than a preliminary estimate of 1.7 percent. Inflation was steady for furniture and household equipment; housing & utilities and clothing & footwear. In addition, a slowdown in cost of non-regulated energy products offset rising prices of food.
Istat | Agna Gabriel | 12/14/2018 10:32:06 AM
Year-on-year, inflation was steady for furniture and household equipment (0.1 percent, the same as in October); housing & utilities (4.8 percent), as prices of regulated energy products should remain stable (at 10.7 percent) while those of non-regulated energy products (7.8 percent vs 9.5 percent) slowed; and clothing & footwear (0.2 percent).

Also, cost rose faster for food and non-alcoholic beverages (0.9 percent from 0.7 percent in October), with contributions of both processed food (1.1 percent from 1.0 percent) and unprocessed food (1.1 percent from 0.8 percent). Additional upward pressure came from prices of: restaurants & hotels (1.3 percent from 1.2 percent) and alcoholic beverages & tobacco (3.4 percent vs 3.2 percent).

On the other hand, prices eased for transport (3.5 percent vs 3.9 percent), despite a slight increase in prices of services related to transport (2.0 percent vs 1.8 percent); and miscellaneous goods & services (2.5 percent vs 2.6 percent).

Annual core inflation rate, which excludes energy and unprocessed food, went up 0.7 percent, the same as in October and below flash estimates of 0.9 percent. Excluding only energy, the inflation the inflation went down to 0.7 percent from 0.8 percent in the prior month.

On a monthly basis, consumer prices dropped 0.2 percent, after being unchanged in October, and compared preliminary estimates of smaller decline of 0.1 percent.

The harmonized index of consumer prices rose by 1.6 percent from the previous year (1.7 percent in October); and decreased by 0.3 percent month-over-month (0.2 percent in October).

Italy Inflation Rate Revised Down to 1.6% in November