In November 2019 the Italian consumer price index for the whole nation (NIC) decreased by 0.2% on monthly basis and increased by 0.2% on annual basis (the same as in the previous month). The flash estimate was +0.4%.
The stability of the growth on annual basis of All items index was due to the stability of almost all the types of products whereas the slowdown of prices of Services related to transport (from +1.8% to +1.3%) was offset by the speed-up of process of Semi-durable goods (from +0.1% to +0.5%) and the lower decrease to those of Durable goods (from -0.9% to -0.4%).
The core inflation excluding energy and unprocessed food was +0.7% (the same as in the previous month) and inflation excluding energy was +0.8% (up from +0.7%).
The decrease on monthly basis of All items index was essentially due to the decreases, mainly due to seasonal factors, of prices of Services related to transport and of Services related to recreation, including repair and personal care (-1.3% for both), only partially offset by the increase of prices of Unprocessed food (+1.0%).
The annual rate of change of prices of Goods was -0.4% (from -0.5% in October) and that one of prices of Services was +1.0% (down from +1.1%). As a consequence, the inflationary gap between Services and Goods was +1.4 percentage points (+1.6 in October).
Prices of Grocery and unprocessed food increased by 0.5% on monthly basis and on annual basis (the same as in the previous month).
In November the Italian harmonized index of consumer prices (HICP) decreased by 0.3% on monthly basis and increased by 0.2% with respect to November 2018 (the same as in the previous month). The flash estimate was +0.4%.