Italy's annual inflation rate climbed to 1.4% in November 2024, up from 0.9% in the previous month, reaching its highest level in a year and aligning with market expectations, according to a flash estimate.
Italy inflation rises to one-year high
This increase was primarily due to the normalization of base effects from the 2022 energy supply crisis, although it remained lower than the average inflation rate seen across other Eurozone countries. Prices for regulated energy surged by 7.5%, up from 3.9% in October, while the decline in unregulated energy costs slowed to -6.6% from -10.2%.
Core inflation also accelerates
In addition, inflation for processed foods rose to 2.4% from 1.7%, for unprocessed foods to 4.1% from 3.4%, and for transportation services to 3.5% from 3%. Meanwhile, core inflation edged up to 1.9% from 1.8%. On a month-to-month basis, the Italian Consumer Price Index (CPI) remained unchanged for the second consecutive month.
