Italy’s inflation rate drops to 0.7%
(ANSA) – Rome, December 12 – Italy’s annual inflation rate dropped to 0.7% in November, down from 0.8% in October, national statistics agency Istat said Thursday.
The agency revised up its initial inflation forecast of 0.6% but, even so, November’s level was the lowest since 2009.
Price’s actually fell 0.3% last month with respect to October, Istat said, adding that this was the third consecutive month-on-month fall.
Italy’s long recession has dampened price rises.
A two-year run of negative growth ended in the third quarter of this year, when GDP was flat with respect to the April-June period.