Inflation, Eurostat confirms 2.4 percent in November. Down to 0.6 in Italy

Brussels – Now it’s official: in November inflation fell to 2.4 percent. Eurostat confirms preliminary estimates and certifies the numbers already given at the end of November. It is confirmed that a non-insignificant role is played by the slowdown in energy prices (-1.41 pp) and the moderate declines in unprocessed foods (+0.28 pp). Thus, the inflation rate is affected by the boost of services (+1.69 pp), followed by food, alcohol, and tobacco (+1.37 pp). Italy stands out in this downward trajectory of the cost-of-living index, which records the 13th consecutive decline. At the eurozone level in November, the lowest annual rates were recorded in Belgium (-0.8 percent) and Italy (0.6 percent). Even if we want to consider the European Union in its entirety, including member countries without the euro, Italy still ranks third in inflation rates. Between the Belgian and tricolor figures is the Danish one (0.3 percent).

The consolidated November data also seem to confirm the expectations of the Central Bank, which recently revised down its estimates for inflation in 2023 and 2024, convincing the Board of Governors not to modify interest rates, which were left unchanged. So far, the trend in the inflation index is proving the Eurotower and its restrictive monetary policies right, with the eurozone returning to the reference value of 2 percent, albeit at different speeds and situations.