ROME (Reuters) – Italian EU-Harmonised Consumer Prices (HICP)
Italian EU-harmonised consumer prices (HICP) rose 0.1% month-on-month in December. The annual inflation rate slowed to 1.4% from 1.5% in November, according to preliminary figures released on Tuesday.
The data was lower than expected. A Reuters survey of seven analysts had predicted a 0.3% month-on-month rise and a 1.6% year-on-year increase.
Official statistics agency ISTAT reported that Italy’s annual HICP average rate for 2024 came in at 1.1%, down from 5.9% in 2023, primarily due to a sharp decrease in energy prices.
In December, the main domestic price index (NIC) was up 0.1% on the month and up 1.3% annually, consistent with a 1.3% annual rate the previous month.
Core inflation (excluding fresh food and energy) ran at 1.8% year-on-year on the HICP index in December, down from 2.1% in November.
Eurozone inflation accelerated, as anticipated, to 2.4% from 2.2% in November, as reported by Eurostat on Tuesday.
Preliminary Breakdown by ISTAT:
EU-Harmonised Index (HICP):
| Month | Monthly Change | Year-on-Year Inflation |
|---|---|---|
| Dec | 0.1 | 1.4 |
| Nov | -0.1 | 1.5 |
| Oct | 0.3 | 1.0 |
| Index (base 2015=100) | 123.4 | |
| 123.3 | ||
| 123.4 |
NIC Index:
| Month | Monthly Change | Year-on-Year Inflation |
|---|---|---|
| Dec | 0.1 | 1.3 |
| Nov | -0.1 | 1.3 |
| Oct | 0.0 | 0.9 |
| Index (base 2015=100) | 121.2 | |
| 121.1 | ||
| 121.2 |
HICP Sector Breakdown for December:
| Sector | m/m | yr/yr |
|---|---|---|
| Food | -0.3 | +2.4 |
| Alcoholic drinks, tobacco | -0.5 | +2.4 |
| Clothing | +0.1 | +0.7 |
| Housing, electricity, fuel | +0.3 | 0.0 |
| Domestic goods | 0.0 | +0.3 |
| Health spending | 0.0 | +2.3 |
| Transport | +0.7 | +0.5 |
| Communications | 0.0 | -5.5 |
| Recreation | +0.9 | +1.1 |
| Education | 0.0 | +2.9 |
| Hotels, restaurants | -0.6 | +2.9 |
| Other goods, services | +0.3 | +2.8 |
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