Italian inflation declines in November

Inflation data from Italy will do little to alleviate Eurozone deflation concerns. The Italian consumer price index fell 0.4 per cent in November, according to a flash estimate from Istat. Analysts has expected inflation of 0.2 per cent, from October's 0.1 per cent increase.

Year-on-year, Italian inflation was 0.6 per cent in November, after expectations of 0.8 per cent - the same as October's increase.

The fall - the third monthly slowdown - was mainly due to the decline, when compared with October 2013, of prices of restaurant and hotels (-1.7 per cent), and transport (-0.9 per cent). Fuel prices declined, whilst food saw a small rise, led by fresh products.

Istat, the country's statistics office, also said that the main domestic consumer price index fell by 0.4 per cent in November, month-on-month. Analysts had expected it to be flat after October's 0.1 per cent increase.