The annual inflation rate in Italy rose to 0.5% in December 2019 from 0.2% in November and matching the preliminary estimate. It was the highest inflation rate since June, boosted by prices of transport (1.2% vs -0.3% in November) and food & non-alcoholic beverages (0.8%, the same pace as in November). Additional upward pressure came from alcoholic beverages & tobacco (2% vs 1.9%); clothing & footwear (0.6% vs 0.4%); miscellaneous goods & services (1.6% vs 1.8%) and hotels & restaurants (1.2% vs 1.3%). However, cost fell for housing & utilities (-1.7% vs -1.8%) and communication (-6.6% vs -6.4%). Annual core inflation rate, which excludes energy and unprocessed food dropped to 0.6% from 0.7% in the prior month. Excluding only energy, the inflation also edged down to 0.7% from 0.8% in November. On a monthly basis, consumer prices went up 0.2%, after decreasing 0.2% in the previous month and matching an earlier estimate. Inflation Rate in Italy averaged 5.93 percent from 1962 until 2019, reaching an all time high of 25.64 percent in November of 1974 and a record low of -0.60 percent in January of 2015. source: National Institute of Statistics (ISTAT)
Inflation Rate in Italy is expected to be 0.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Italy to stand at 0.90 in 12 months time. In the long-term, the Italy Inflation Rate is projected to trend around 1.10 percent in 2020, according to our econometric models.