According to preliminary estimates, in November 2024 the national consumer price index for the entire community (NIC), including tobacco, rrecorded a zero change on a monthly basis and increased by 1.4% on an annual basis, from +0.9% in the previous month.
This was announced by Istat, specifying that the increase in the cost of living occurred “albeit in a context of overall price stability on the economic level”.
In November the shopping cart is still running. Istat underlines that the prices of food, household and personal care goods are accelerating on a trend basis, going from +2.0% to +2.6%. The prices of high-frequency products are also accelerating (from +1.0% to +1.8%).
Istat explains that inflationary dynamics are concentrated in certain sectors: stensions on food prices are worseningwith a clear acceleration of their growth on an annual basis, and energy goods, whose deflationary push is significantly reduced. The prices of transport services are also accelerating.
In particular, the rise in the inflation rate is primarily affected by theacceleration of prices of regulated energy goods (from +3.9% to +7.5%) and the easing of the decline in those of non-regulated energy goods (from -10.2% to -6.6%). Support for the cost of living also comes from the trend in prices of food goods, both processed (from +1.7% to +2.4%) and unprocessed (from +3.4% to +4.1%), of Durable goods (from -1.4% to -0.8%), Transport services (from +3.0% to +3.5%), Non-durable goods (from +0.9% to + 1.3%) and, to a lesser extent, those of the related Services to housing (from +2.3% to +2.5%) and communications-related services (from +1.0% to +1.2%
Codacons: from the impact of inflation 460 euros more per family
Inflation rears its head again, “with retail prices rising in view of Christmas and increased family spending”. This was stated by Codacons, commenting on the data released today by Istat and calculating that inflation at +1.4% “translates into an average increase in spending for the typical family of +460 euros per year, which rises to +627 euros for a family with two children”.
According to the users’ defense association, the increases for food and non-alcoholic drinks are “extremely worrying”, which in November rose to +3.2%: “this means that an average family just for the purchase of food and drinks must take into account a higher expense of +202 euros on an annual basis, which rises to +292 euros for a family with two children”.
“The increases in retail prices are affected by tensions on the international raw materials markets, which have direct repercussions on retail prices, but also by upward adjustments linked to the approach of Christmas, when families increase their consumption – he reports President Carlo Rienzi – Unfortunately on the price front we are witnessing a total inaction on the part of the government, which has not adopted any measures aimed at controlling price lists and combating speculation”.
Assoutenti: “Ad hoc measures are needed on prices in view of Christmas”
The increases in food prices are alarming for Assoutenti and must lead the government to take action by adopting ad hoc measures to prevent Italians’ Christmas from turning into a drain. “The increases that are affecting the food sector deserve the utmost attention – explains the president Gabriele Melluso – The prices of food goods and non-alcoholic drinks are increasing by +3.2% on year, with peaks of +4.1 for goods unprocessed food. The consequence is that families cut food consumption, which dropped in volume by a total of 1.6 billion euros in 2024, net of inflation”.
“The price situation – concludes Melluso – risks worsening during the next holidays, and for this reason we appeal to the government to save the Italians’ Christmas by adopting measures aimed at bringing down prices especially in the food sector as soon as possible”.
Inflation in the Eurozone rose to 2.3% in November
Inflation in the Eurozone rises to 2.3% in November 2024, up from 2% in October. This is what emerges from Eurostat’s ‘flash’ estimate for the month. Inflation also rising in Italy and to 1.6%, from 1% in October. Among the Euro Twenty, highest values in Belgium (5%) and Croatia. Lowest in Ireland (0.5%), Lithuania and Luxembourg (1.1%), followed by Italy and Slovenia (1.6%). Among the main components, greater contribution from services (3.9%, from 4% in October), followed by food, alcohol and tobacco (2.8%, from 2.9%), non-energy industrial goods (0.7 %, from 0.5%) and energy (-1.9%, from -4.6%).