Italy: Inflation comes in at highest level since August 2008 in November
Consumer prices rose 0.57% over the previous month in November, slowing down from the 0.67% rise logged in October. Looking at the details of the release, prices for food and non-alcoholic beverages rose in November and prices for transportation rebounded. Meanwhile, prices for recreation and culture fell at a softer pace. In addition, prices for utilities grew at a more subdued pace.
Inflation came in at 3.7% in November, which was up from October’s 3.0%. November’s result marked the highest inflation rate since August 2008. Annual average inflation rose to 1.5% in November (October: 1.2%). Lastly, harmonized inflation rose to 3.9% in November, from October’s 3.2%.