In December 2023, the national consumer price index for the whole community (NIC), excluding tobacco, is estimated to increase by 0.2% month-on-month and by 0.6% year-on-year (from +0.7% in the previous month), confirming the preliminary estimate. This was announced by Istat. On average, consumer prices will grow by 2023.5% in 7 (+8.1% in 2022). Excluding energy and fresh food (the "core inflation"), consumer prices grew by 5.1% (+3.8% in the previous year) and excluding energy alone by 5.3% (+4.1% in 2022), explains the Institute. The year-on-year slowdown in inflation is mainly due to the prices of regulated energy products (which accentuated their decline from -34.9% to -41.6%), Istat points out.
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