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Italy's Inflation Remains Negative For Eighth Straight Month

Italy's consumer prices declined for the eighth consecutive month in December, final data from the statistical office Istat showed on Monday.

Consumer prices decreased 0.2 percent annually, the same rate of decline as seen in November. But the December rate was revised from -0.1 percent.

Month-on-month, consumer prices advanced 0.2 percent, in contrast to the 0.1 percent drop seen in November. According to preliminary estimate, prices were up 0.3 percent.

Confirming the preliminary estimate, the harmonized index of consumer prices dropped 0.3 percent annually, unchanged from the November rate and in line with initial estimate. On month, the HICP climbed 0.2 percent after staying unchanged in the prior month.

Excluding energy and fresh food, core inflation accelerated to 0.6 percent from 0.4 percent in November.

In 2020, average consumer prices logged a decrease of 0.2 percent, in contrast to a 0.6 percent rise in 2019, while core inflation held steady at 0.5 percent.

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