Italia Inflation Rate Down to 2.3 in December


In December 2012, the national index of consumer prices increased by 0.2% compared to the previous month and by 2.3% in relation to December 2011 (provisional estimate was 2.4%), with a delay of two-tenths of a percentage point in November 2012 (+2.5%).

The slowdown in the rate of inflation (third consecutive) is mainly due to the further slowdown in prices of non-regulated energy goods, which are experiencing a monthly downturn of 0.7% and an annual growth rate of 7.7%, from 11.6% in November.

Compared to December 2011, the growth rate of prices of goods was down to 2.7% from 2.9% the previous month, and the prices of services rose to 2.0% (from 1.9% in November). Consequently, the inflation differential between goods and services is reduced by three-tenths of a percentage point in November. The prices of products purchased most frequently by consumers increased 0.1% on a monthly basis and 3.1% with a marked slowdown from 3.5% in November.
 
The average annual inflation rate for 2012 was 3.0%, an acceleration of two-tenths of a percentage point from 2.8% recorded for 2011. In December 2012, the Harmonised Index of Consumer Prices increased by 0.3% on a monthly basis and 2.6% on an annual basis (the same value recorded in November). The final data confirm preliminary estimates. The average annual growth rate relative to 2012 was 3.3%, accelerating from 2.9% in 2011.

ISTAT | Nuno Fontes | nuno@tradingeconomics.com
1/15/2013 9:22:42 AM