Italian inflation eases slightly in December as energy prices slow

Italy's consumer price inflation eased slightly in December from a more than thirty-eight year high in November, primarily due to a moderation in the price growth of energy, preliminary data from the statistical office showed on Thursday.
Consumer price inflation eased to 11.6% in December from a revised 11.8% in November, which was the strongest since March 1984. That was also in line with economists' forecasts.
The overall strong inflation in December was largely driven by a 64.7% surge in prices for energy goods. In November, energy prices had grown 67.6%.
Utility costs alone climbed 54.5% annually in December, and prices for food and non-alcoholic beverages rose 13.1%.
Transport charges were 6.2% more expensive compared to last year.
Excluding energy and fresh food, core inflation accelerated to 5.8% from 5.6%.
EU harmonized inflation also eased to 12.3% in December from 12.6% in the previous month, as expected.
On a monthly basis, the harmonized index of consumer prices edged up 0.2%, in line with expectations.
The consumer price index increased 0.3% versus an expected rise of 0.1%.
In 2022, consumer prices recorded an average annual growth of 8.1%, marking the largest increase since 1985, mainly due to the trend in the prices of energy goods, the statistical office said.