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Italian annual inflation rises less than expected in November

Italy's annual harmonized index of consumer prices rose 0.2% in November, the same rate as in the previous month, preliminary data from the country's National Institute of Statistics showed.

The consensus estimate of economists polled by Econoday was for a 0.4% annual increase in the harmonized index of consumer prices.

Energy prices fell 4.7% year over year in November while prices of food, alcohol and tobacco rose 0.9%. Prices in the goods sector were down 0.4% while prices in the services segment rose 1.1%.

On a monthly basis, the harmonized index of consumer prices fell 0.3% in November.

Annual core inflation, which excludes energy and unprocessed food, came in at 0.7%, the same as in October.

In nonharmonized terms, consumer prices grew 0.2% year over year in November and declined 0.2% month over month.