News Karnataka
Friday, March 01 2024

Italy’s annual inflation rate lowest in 32 months

Italy's annual inflation rate lowest in 32 months
Photo Credit : IANS

Rome: The annual inflation rate in Italy fell to 0.8 per cent 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 per cent on a monthly basis and an increase of 0.8 per cent on an annual basis, reports Xinhua news agency.

This was down from 1.7 per cent 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 per cent year-on-year.

Meanwhile, regulated energy prices declined by 36 per cent 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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