The rise in prices remained stable at 11.8% in November in Italy, its maximum since 1984. Despite positive signals, the average basket continues to climb.
After a surge in inflation last October, to 11.8%, the rise in prices remained stable in November in the Peninsula, but is still evolving “at levels not seen since March 1984”, commented the National Institute statistics (Istat). Still, the Eurozone is showing encouraging signs with a slowdown recorded from 10.6% to 10%, the first decline after 17 consecutive increases.
In Spain and France, inflation has always remained below 10%, at 6.6% and 7.1% respectively; while in Germany, where inflation is more or less similar to the Italian price rise, the rate has started to decline, from 11.6 to 11.3% in November.
Positive signals on energy, but the price of the average basket is still rising
“If in the coming months the ongoing decline in wholesale gas and other commodity prices continues, inflation could start to come down”considers the Istat.
For now, Italian consumers are not seeing any decline. On the contrary, the price of the average basket increased further, rising from 12.6 to 12.8% over one year. And if the price of fresh vegetables has fallen, that of fruits and processed food products is accelerating (from +13.3% to +14.4%).
Furthermore, the prices of unregulated energy goods slowed (from +79.4% to +69.9%); but those of Regulated Energy accelerated (from +51.6% to +56.1%).
Over the months, rising prices necessarily affect consumption. At Christmas, purchases promise to be more contained for one in five Italians, according to a study conducted by Ipsos.