Italy's annual inflation rate lowest in 32 months

  • World
  • Friday, 01 Dec 2023

ROME, Nov. 30 (Xinhua) -- The annual inflation rate in Italy fell to 0.8 percent in November 2023, the lowest recorded value since March 2021, according to government data.

In November, the Italian national consumer price index for the entire collectivity, including tobacco products, recorded a decrease of 0.4 percent on a monthly basis and an increase of 0.8 percent on an annual basis. This was down from 1.7 percent in October, said ISTAT, the country's national statistics institute.

Lower energy prices were the main factor pushing the inflation rate lower, ISTAT said, with non-regulated energy prices declining by 22.5 percent year-on-year. Meanwhile, regulated energy prices declined by 36 percent in November compared to the year-ago period.

In the meantime, inflation slowed for processed food, recreational and cultural services, and transportation services in Italy.

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