30.11.202311:26:00UTC+00Italy Inflation Eases To 0.8%, Lowest In 32 Months

Italy's consumer price inflation eased further in November to the lowest level in more than two-and-a-half years, preliminary data from the statistical office, ISTAT, showed on Thursday.

The consumer price index rose 0.8 percent year-over-year in November, slower than the 1.7 percent gain in the previous month.

Further, this was the weakest inflation since March 2021, the agency said.

The slowdown in inflation was mainly due to energy prices. Prices for unregulated energy products plunged by 22.5 percent, and those of regulated products tumbled by 36.0 percent.

Core inflation, which excludes energy and fresh food, slowed to 3.6 percent from 4.2 percent in the previous month.

On a monthly basis, consumer prices dropped 0.4 percent in November.

Inflation, based on the harmonised index of consumer prices, stood at 0.7 percent in November, down sharply from 1.8 percent in October. Month-on-month, the HICP posted a decline of 0.4 percent.

Separate official data showed that the jobless rate rose to 7.8 percent in October from 7.6 percent in September. In the corresponding month last year, the rate was 7.9 percent.