Italian Consumer Prices Unchanged in December


Consumer prices in Italy held steady in December of 2014 compared with a year earlier, matching preliminary estimates, mainly due to decrease in fuel prices.

Year-on-year, prices of non-regulated energy products felt the most (-8 percent from -3.1 percent in November 2014). Other price decreases were reported for: transport (-0.9 percent); housing, water, electricity and gas (-0.4 percent) and food (-0.2 percent). Upward pressure came from restaurants and hotels (+1 percent), furnishing and household equipment (+0.6 percent), clothing and footwear (+0.2 percent) and culture and leisure (+0.2 percent). 

Excluding unprocessed food and energy, inflation was recorded at 0.6 percent and excluding energy only, inflation was 0.5 percent, down from 0.6 percent in November of 2014.

The harmonized index of consumer prices (HICP) declined by 0.1 percent compared to December 2013, and was flat with compared to the previous month, matching preliminary estimates.

On a monthly basis, consumer prices were unchanged, as a rise in transport cost (0.2 percent) was offset by a drop in 
prices of restaurants and hotels (-0.5 percent) and housing, water, electricity and gas (0.2 percent).

Istat | Carolina Cunha | Carolina.cunha@tradingeconomics.com
1/16/2015 12:27:43 PM