Financial News: Italy Inflation Remains Stable, Jobless Rate Falls To

Italy Inflation Remains Stable, Jobless Rate Falls To Record Low

(RTTNews) - Consumer price inflation in Italy held steady at the end of the year after rising in the previous two months, preliminary data from the statistical office showed on Tuesday.

The unemployment rate dropped further in November to a historical low, separate official data revealed.

Consumer price inflation stood at 1.3 percent in December, the same as in November. Meanwhile, economists had expected inflation to rise to 1.5 percent.

Prices for unprocessed food products rose at a faster pace of 3.8 percent annually in December versus a 2.5 percent increase a month ago. On the other hand, costs for durable goods were 1.3 percent cheaper, and the decline in non-regulated energy products eased to 6.6 percent from 4.2 percent.

Data showed that the annual price growth in regulated energy goods accelerated to 11.9 percent from 7.4 percent.

On a monthly basis, consumer prices edged up 0.1 percent in December versus an expected increase of 0.3 percent.

In 2024, the average annual rate of change of consumer prices was 1.0 percent versus 5.7 percent in 2023.

Inflation, based on the harmonized index of consumer prices, decelerated slightly to 1.4 percent in December from 1.5 percent in the previous month. Monthly, the HICP increased 0.1 percent.

The jobless rate came in at 5.7 percent in November, down from 5.8 percent in October. Moreover, this was the lowest jobless rate since the current series began in 2004. The employment rate also stayed unchanged at 62.4 percent.

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