Financial News: Italy Inflation Rises To 1.4% In November

Italy Inflation Rises To 1.4% In November

11/29/2024 - 06:35:00 (RTTNews)

(RTTNews) - Consumer price inflation in Italy increased further in November to the highest level in just over a year, provisional data from the statistical office showed on Friday.

Consumer price inflation rose to 1.4 percent in November from 0.9 percent in September, as expected.

Moreover, the latest inflation was the highest since October 2023, when prices had risen 1.7 percent.

The increase in inflation was mainly driven by higher costs for regulated energy goods and food products.

The annual price growth in regulated energy products quickened to 7.5 percent from 3.9 percent, and that for unprocessed food increased to 4.1 percent from 3.4 percent.

On the other hand, costs for non-regulated energy products decreased at a slower pace of 6.6 percent annually versus a 10.2 percent plunge a month ago.

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

On a monthly basis, consumer prices remained flat in November, while prices were expected to fall by 0.2 percent.

Inflation, based on the harmonized index of consumer prices, climbed to 1.6 percent in November from 1.0 percent in the previous month. Monthly, the HICP showed a stagnant change.

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