Financial News: Italy Economy Grows 0.1%; Inflation Remains Stable

Italy Economy Grows 0.1%; Inflation Remains Stable

(RTTNews) - Italy's economy rebounded in the third quarter, revised from a stagnant change estimated initially, the latest data from the statistical office ISTAT showed on Friday.

Another piece of official data revealed that consumer price inflation held steady in November.

Gross domestic product rose 0.1 percent sequentially in the third quarter, reversing a 0.1 percent decline in the second quarter.

On the demand side, national final consumption rose only 0.1 percent, and gross fixed capital formation advanced by 0.6 percent. Net foreign demand was also positive as exports grew 2.6 percent amid a comparatively slower increase of 1.2 percent in imports.

On a yearly basis, GDP advanced at a slightly faster pace of 0.6 percent versus a 0.5 percent increase in the second quarter. In the flash report, the rate of expansion was 0.4 percent.

Italy's consumer price inflation remained stable at 1.2 percent in November, flash data said. Monthly, consumer prices dropped 0.2 percent versus an expected fall of 0.1 percent.

Inflation based on transport services slowed to 0.8 percent from 2.0 percent, and that on unprocessed food moderated to 1.4 percent from 1.9 percent. On the other hand, the annual price decline in regulated energy products deepened to 3.3 percent from 0.5 percent, and that in processed food accelerated to 2.7 percent from 2.5 percent.

Excluding energy and fresh food, core inflation eased slightly from 1.9 percent to 1.8 percent.

Inflation, based on the harmonized index of consumer prices, softened to 1.1 percent in November from 1.3 percent in the previous month. Monthly, the HICP decreased 0.2 percent.

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