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Italian inflation rate edges lower in December - ISTAT

Published 01/05/2023, 06:47 AM
Updated 01/05/2023, 06:57 AM
© Reuters.

By Scott Kanowsky 

Investing.com -- Price growth in Italy slowed in line with expectations in December, but still remains firmly in double-digit territory, according to preliminary data on Thursday.

The Italian National Institute of Statistics said the country's EU-harmonized annual inflation rate dropped slightly to 12.3% during the month, down from 12.6% in November.

When not calculated to account for EU standards, the consumer price index for Eurozone's third-largest economy decreased marginally to 11.6% from 11.8%.

The Italian figures come after France and Germany posted larger-than-expected declines in inflation in December, fueling hopes that a recent cost-of-living crisis in Europe may be starting to ease.

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