Italy December Inflation Eases As Expected

(RTTNews) - Italy's EU harmonized inflation weakened in December, in line with economists' expectations, latest data revealed Friday.

The harmonized index of consumer prices (HICP) increased 0.6 percent in December from the same month of last year, after growing 0.7 percent in November, preliminary data from statistical office Istat showed. The December outcome was in line with economists' expectations.

On a monthly basis, the HICP moved up 0.3 percent in December, reversing the previous month's 0.3 percent decrease. The monthly change in December was in line with expectations.

In the whole of 2013, the HICP inflation was 1.3 percent, sharply lower than the 3.3 percent recorded in 2012.

The statistical office further noted that Italy's consumer price inflation stayed unchanged at 0.7 percent in December. Economists were looking for an inflation rate of 0.8 percent.

Sequentially, consumer prices edged up 0.2 percent during the month, following November's 0.3 percent decease. Economists had forecast a 0.4 percent rise for December.