ROME, Nov. 30 (Xinhua) — According to official government data, the annual inflation rate in Italy dropped to 0.8 percent in November 2023. This represents the lowest recorded value since March 2021.
The Italian national consumer price index for the entire collectivity, including tobacco products, saw a 0.4 percent decrease on a monthly basis and a 0.8 percent increase on an annual basis in November. This is a notable drop from the 1.7 percent rate recorded in October, as reported by ISTAT, the country’s national statistics institute.
ISTAT stated that lower energy prices were the primary driving force behind the decline in the inflation rate. Non-regulated energy prices plummeted by 22.5 percent year-on-year, while regulated energy prices fell by 36 percent in November compared to the same period last year.
Additionally, inflation decelerated for processed food, recreational and cultural services, as well as transportation services in Italy.
