Italy's CPI for whole nation surges 11.6% YoY in Dec 2022: Istat

06 Jan '23

2 min read

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Italy’s consumer price index (CPI) for the whole nation (NIC) increased by 0.3 per cent month-on-month (MoM) and 11.6 per cent year-on-year (YoY) in December 2022, as per preliminary estimates by the Italian National Institute of Statistics (Istat). In 2022, the average annual rate of change of consumer prices, measured by NIC, was +8.1 per cent (+1.9 per cent in 2021).

Core inflation, excluding energy and other items, was +3.8 per cent (from +0.8 per cent in 2021) and inflation excluding energy was +4.1 per cent (+0.8 per cent in 2021). In December 2022, core inflation was +5.8 per cent (from +5.6 per cent in the previous month) and inflation excluding energy was +6.2 per cent (from +6.1 per cent in November), according to a press release by Istat.

The slowdown of the growth on an annual basis of an all-item index was mainly due to the prices of non-regulated energy products (from +69.9 per cent to +63.3 per cent) and other products.

In December 2022, according to preliminary estimates, the Italian harmonised index of consumer prices (HICP) increased by 0.2 per cent compared with the previous month and by 12.3 per cent on an annual basis (from +12.6 per cent in November). In 2022 the average annual rate of change of HICP was +8.7 per cent (was +1.9 per cent in 2021).

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