Italy November preliminary CPI +1.4% vs +1.4% y/y expected

• Prior +0.9%
• HICP +1.6% vs +1.5% y/y expected
• Prior +1.0%

The nudge higher owes to base effects, similar to the rest of the euro area. However, core annual inflation is also seen marginally higher on the month – up from 1.8% in October to 1.9% in November. That said, it is still holding under 2% so that’s some comfort for the ECB as compared to the likes of Germany.

This article was written by Justin Low at www.forexlive.com.