Consumer prices (provisional data)

According to preliminary estimates, in December 2019 the Italian consumer price index for the whole nation (NIC) increased by 0.2% on monthly basis and by 0.5% with respect to December 2018 (up from +0.2% in the previous month).

In 2019, the average annual rate of change of consumer prices, measured by NIC, was +0.6 (+1.2% in 2018); core inflation, excluding energy and unprocessed food, was +0.5% (+0.7% in 2018).

In December the acceleration of the growth on annual basis of All items index was mainly due to prices of Non-regulated energy products (from -3.0% to +1.6%).

The core inflation (excluding energy and unprocessed food) and inflation excluding energy were respectively +0.7% and +0.8% (the same as in the previous month for both).

The growth on monthly basis was mainly due to the increase of prices of Services related to transport (+0.9%), of Unprocessed food (+0.6%), of Non-regulated energy products and Services related to recreation, including repair and personal care (+0.4% for both).

The annual rate of change of prices of Goods was zero (from -0.4%) and that one of prices of Services was +1.0% (the same as in the previous month). As a consequence, the inflationary gap between Services and Goods was lower with respect to November (when it was 1.4 percentage points) but still positive and equal to +1.0 percentage points.

Prices of Grocery and unprocessed food increased by 0.2% on monthly basis and +0.8% on annual basis (up from +0.5% in the previous month).

In December 2019, according to preliminary estimates, the Italian harmonised index of consumer prices (HICP) increased by 0.2% compared with the previous month and by 0.5% with respect to December 2018 (up from +0.2% in the previous month). In 2019 the average annual rate of change of HICP was +0.6% (+1.2% in 2018).