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Italy inflation declines further in November

Italy inflation declinesAccording to provisional data by the National Statistical Institute (Istat), consumer prices in Italy dropped 0.2% on a monthly basis in November, matching October’s decrease.

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The figure mainly reflected lower prices for services related to recreation, including repair and personal care, and to transport that partly reflected seasonal factors. Meanwhile, inflation came in at a 11-month low of 0.9% in November, decelerating further from the previous month’s 1.0% print.

Core consumer prices, which exclude more volatile categories such as unprocessed food and energy, fell 0.4% in November month-on-month, matching October’s drop.

Core inflation was 0.4% in November, slightly below October’s 0.5% and the lowest reading in one year. Finally, harmonized inflation came in at 1.1%, mirroring October’s print.

FocusEconomics Consensus Forecast panelists expect inflation of 1.4% in 2018, which is unchanged from last month’s projection. For 2019, panelists expect inflation to average 1.5%.

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