Italian consumer price index falls sequentially in November

Italian consumer price index dropped in the month of November. Sequentially, CPI inflation dropped 0.2 percent. On a year-on-year basis, the headline inflation eased to 0.2 percent from 0.4 percent.

The stability of the growth on annual basis of all items index was because of the stability of nearly all the types of products whereas the slowdown of prices of services related to transport was countered by the acceleration of prices of semi-durable goods and the lower fall to those of durable goods.

The core inflation rate, which excludes energy and unprocessed food, rose 0.7 percent, the same as in the prior month. Inflation excluding energy came in at 0.8 percent.

On a sequential basis, the decrease in the headline inflation was mainly due to the decreases of prices of services related to transport and of services related to recreation, including repair and personal care, only partly countered by the rise of prices of unprocessed food.

The annual rate of change of prices of goods dropped -.4 percent and that one of prices of services was +1 percent. Therefore, the inflationary gap between services and goods was +1.4 percentage points.

The harmonized index of consumer prices dropped 0.3 percent sequentially, where it rose 0.2 percent year-on-year in Italy.