Italy: Harmonized inflation recedes in November
Harmonized inflation came in at 0.7% in November, down from October’s 1.9%. November’s reading marked the lowest inflation rate since March 2021. The decline was broad-based, with lower price pressures recorded for food and non-alcoholic beverages, transportation, and housing and utilities. Moreover, prices for recreation grew at a more subdued pace.
Annual average harmonized inflation fell to 6.9% in November (October: 7.9%). Meanwhile, consumer price inflation fell to 0.7% in November, from the previous month’s 1.7%.
Finally, harmonized consumer prices fell 0.55% in November over the previous month, contrasting the 0.07% increase logged in October. November’s result marked the weakest reading since July.