Inflation still rising in November: 0.7 over the month and 3.8 over the year

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November 30, 2021 Inflation continues to rise even in November.

According to preliminary estimates, in November 2021 the national consumer price index for the entire community, before tobacco, recorded an increase of 0.7% on a monthly basis and 3.8% on an annual basis ( from + 3% of the previous month).

This was announced by Istat, explaining that inflation accelerates reaching a level that has not been recorded since September 2008 and continuing to be supported above all by the growth in the prices of energy goods, with the increase in the unregulated component following that of the registered regulated component in October. Inflationary tensions, albeit to a limited extent, are also spreading to other product sectors, in particular Food Goods and Services relating to transport, and core inflation rises to levels not seen since March 2013.

Energy goods accelerated from + 24.9% in October to + 30.7% and, in particular, those of the non-regulated component (from + 15% to + 24.3%), while the regulated component recorded a slight slowdown ( from + 42.3% to + 41.8%). The prices of both processed (from + 1% to + 1.7%) and unprocessed (from + 0.8% to + 1.5%) food goods and those of transport services (from + 2.4% to + 3.6%).

Core inflation, net of energy and fresh food, and that net of energy goods alone, accelerated from + 1.1% in October to + 1.4%. The cyclical increase in the index is mainly due to the prices of non-regulated energy goods (+ 7.9%) and processed food (+ 0.9%) and unprocessed (+ 1.4%); for reasons attributable to seasonal factors, the prices of recreational, cultural and personal care services fell (-0.7%). On an annual basis, both the prices of goods (from + 4.2% to + 5.3%) and those of services (from + 1.3% to + 1.7%) accelerate. The prices of food goods, for home and personal care (from + 1% to + 1.4%) and those of products with high frequency of purchase (from + 3.1% to + 3.8%) accelerate ). According to preliminary estimates, theharmonized index of consumer prices Ipca recorded an increase of 0.8% on a monthly basis and of 4% on an annual basis (from + 3.2% in October).

On the other hand, the prices of recreational, cultural and personal care services decreased (-0.7%).

On an annual basis, both the prices of goods (from + 4.2% to + 5.3%) and those of services (from + 1.3% to + 1.7%) accelerate;

the inflation differential between the latter and the prices of goods remains negative (-3.6 percentage points), widening compared to that recorded in October (-2.9).

The inflation acquired for 2021 is equal to 1.9% for the general index and 0.8% for the core component.

According to preliminary estimates, the harmonized index of consumer prices (HICP) recorded an increase of 0.8% on a monthly basis and 4.0% on an annual basis (from + 3.2% in October).