Italy's CPI for whole nation rises by 11.6% YoY in Dec 2022

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 (excluding energy and other items) was +5.8 per cent (up 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.

In December 2022, 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), confirming the flash estimate. In 2022 the average annual rate of change of HICP was +8.7 per cent (+1.9 per cent in 2021).

On average, in 2022, inflation measured by HICP had an impact on the households with less purchasing power (from +2.4 per cent in 2021 to +12.1 per cent) wider than the impact on the households with greater purchasing power for which, anyway, inflation sped up from +1.6 per cent to +7.2 per cent.

ALCHEMPro News Desk (NB)