Consumer price inflation in Italy remained stable at the close of the year, following increases over the previous two months, according to preliminary data released by the statistical office on Tuesday. Concurrently, separate official figures indicated a further drop in the unemployment rate in November, reaching an all-time low.
In December, consumer price inflation was unchanged at 1.3 percent, maintaining the same level as in November. Economists had anticipated a rise to 1.5 percent. Prices for unprocessed food products experienced a more rapid increase, rising 3.8 percent annually in December compared to a 2.5 percent growth in the previous month. Conversely, durable goods were 1.3 percent cheaper, and the decline in non-regulated energy products eased from 4.2 percent to 6.6 percent.
The data indicated an acceleration in the annual price growth for regulated energy goods, which rose to 11.9 percent from 7.4 percent. On a monthly basis, consumer prices saw a modest increase of 0.1 percent in December, less than the expected 0.3 percent.
For the year 2024, the average annual rate of change in consumer prices was projected at 1.0 percent, compared to 5.7 percent in 2023.
Inflation, as measured by the harmonized index of consumer prices (HICP), slightly slowed to 1.4 percent in December from 1.5 percent in November. On a monthly scale, the HICP rose by 0.1 percent.
The unemployment rate fell to 5.7 percent in November, down from 5.8 percent in October, marking the lowest rate since the commencement of the current series in 2004. The employment rate remained steady at 62.4 percent.
The material has been provided by InstaForex Company -
www.instaforex.com
