(Tiper Stock Exchange) – After the sharp acceleration in October, in November 2022 inflation, which remains at levels not seen since March 1984 (when it was +11.9%), it is stable. The prices of some components, which had supported its rise, including unregulated energy and to a lesser extent unprocessed food, slow on an annual basis, while those of other components continue to accelerate, including regulated energy and in to a lesser extent processed foods. Even the prices of the “shopping cart” accelerate but only slightly. If in the coming months – explains Istat – the ongoing drop in the wholesale prices of gas and other raw materials continues, the fire of inflation, which has characterized the current year up to now, could begin to recede.
According to preliminary estimates by the statistical institute, in November 2022 the national consumer price index for the entire community (NIC), gross of tobacco, recorded an increase of 0.5% on a monthly basis and 11.8% YoY (as in the previous month).
Inflation remains stable on a trend basis mainly due to the opposing trends of some expenditure aggregates: on the one hand, the prices of unregulated energy goods slow down (from +79.4% to +69.9%), food unworked (from +12.9% to +11.3%) and transport-related services (from +7.2% to +6.8%); on the other hand, the prices of regulated energy (from +51.6% to +56.1%), of processed food goods (from +13.3% to +14.4%), of other goods (from +4 .6% to +5.0%) and recreational, cultural and personal care services (from +5.2% to +5.5%).
underlying inflation, excluding energy and fresh food, it accelerates from +5.3% to +5.7%; that net of energy goods alone rose from +5.9% to +6.1%.
On an annual basis, the prices of goods show a slight slowdown (from +17.6% to +17.5%), while those of services remain stable (+3.8%); therefore, the negative inflationary differential between the latter and the prices of goods diminished slightly (from -13.8 in October to -13.7 percentage points).
The prices of food, home and personal care products recorded a modest acceleration on a trend basis (from +12.6% to +12.8%); on the contrary, those of frequently purchased products slowed down (from +8.9% to +8.8%).
The cyclical increase in the general index is mainly due to the prices of regulated energy goods (+3.0%), unregulated energy (+2.2%), processed food (+1.5%) and non-durable (+0.6%); on the other hand, mainly due to seasonal factors, the prices of recreational, cultural and personal care services (-0.4%) and services relating to transport (-0.2%) decreased.
Acquired inflation for 2022 it is equal to +8.1% for the general index and +3.7% for the fund component.
According to preliminary estimates, the harmonized index of consumer prices (HICP) increases by 0.6% on a monthly basis and by 12.5% on an annual basis (from +12.6% in the previous month).