Italy’s inflation hits record low since 2009

Italian core inflation was 0.9% in December, down from 1.2% in November, Italian National Institute of Statistics (Istat) revealed.

The Italian consumer price index, excluding energy, increased by 1.0% with respect to December 2012 (0.1 lower than the rate registered in November 2013).

The average annual inflation rate for 2013 was 1.2%, with a marked slowdown from 3.0% registered for 2012.

In December 2013, the Italian harmonized index of consumer prices (HICP) rose by 0.3% on monthly basis and was stable at 0.7% on annual basis (the preliminary estimate was 0.6%).

The average annual inflation rate measured by Italian HICP for 2013 was equal to 1.3% (2.0 points lower than in 2012).

In December 2013, the Italian consumer price index for the whole nation (NIC) increased by 0.2% compared with the previous month and by 0.7% with respect to December 2012 (the same annual rate of November 2013). 

The result has been perceived by some Italian economists as a dangerous sign of a possible deflation risk.

 

“The stability of the Italian inflation was mainly the result of opposite movements: on one hand, the acceleration of the annual dynamics of prices of Food and non-alcoholic beverages, on the other hand, the slowdown of the annual growth of prices of Restaurants and hotels,” Istat’s report also reads.

 

 

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