Italian Inflation Climbs in November

According to the final report by Istat on Monday, Italy's consumer price index (CPI) increased by 1.3% in November on a yearly basis. This reading, while lower than forecasts and the preliminary report, marks an increase from October's annual inflation of 0.9%. On a monthly basis, prices fell by 0.1%.

Key Drivers of Inflation

The acceleration in inflation was primarily driven by energy prices. Regulated energy products saw a significant rise, increasing 7.4% annually, up from 3.9%. Meanwhile, the decline in non-regulated energy slowed from negative 10.2% to negative 6.6%. Food prices also contributed to the inflation increase, with unprocessed food inflation rising to 3.8% and processed food to 1.9%. Additionally, services related to transport climbed to 3.5%.

Core Inflation and HICP

Core inflation, which excludes energy and unprocessed food, edged up to 1.9%. The Harmonized Index of Consumer Prices (HICP) increased by 1.5% annually but fell 0.1% monthly.