Italy Nov EU-harmonised CPI edges down to 12.5% y/y, but above forecasts
Reuters
Published Nov 30, 2022 05:10AM ET
ROME (Reuters) - Italian EU-harmonised consumer prices (HICP) rose a preliminary 0.6% month-on-month in November, with annual inflation slowing marginally to 12.5% from 12.6% in October but exceeding expectations, data showed on Wednesday.
The median forecast in a Reuters survey of 14 analysts had pointed to a 12.0% year-on-year rise.
Official statistics agency ISTAT also reported that the main domestic price index (NIC (NASDAQ:EGOV)), was up 0.5% on the month, posting an 11.8% annual figure which was the same as October's rate.
Core inflation (net of fresh food and energy) was running at 6.2% year-on-year on the HICP index in November, up from 5.7% in October.
ISTAT gave the following preliminary breakdown:
EU-harmonised index (HICP):
Nov Oct Sept
Monthly change 0.6 3.8 1.6
Yr/yr inflation 12.5 12.6 9.4
Index (base 2015=100) 120.7 120.0 115.6
The NIC index:
Monthly change 0.5 3.4 0.3
Yr-on-yr inflation 11.8 11.8 8.9
Index (base 2015=100) 118.7 118.1 114.2
r=revised
ISTAT gave the following sector-by-sector breakdown for the HICP in November:
Sector m/m yr/yr
Food 1.0 13.8
Alcoholic drinks, tobacco 0.4 2.6
Clothing 0.0 2.9
Housing, electricity, fuel 2.1 56.3
Domestic goods 0.8 7.6
Health spending 0.2 1.3
Transport 0.1 6.8
Communications -0.4 -1.5
Recreation 0.3 3.0
Education 0.0 0.9
Hotels, restaurants -0.7 7.9
Other goods, services 0.4 3.3
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Written By: Reuters
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