Shopping cart prices are accelerating but by a little
After sharp acceleration of Octoberto November 2022 inflationwhich remains at levels not seen since March 1984 (+11.9%), it is stable.
The prices of some components, including unregulated energy and to a lesser extent unprocessed foods, slow down on an annual basiswhile those of other components continue to accelerate, including regulated energy and to a lesser extent processed food.
Also “shopping cart” prices accelerate but by a little. If the ongoing decline in wholesale gas and other commodity prices continues in the coming months, the “fire of inflation”which has characterized this year so far, could start to retreat.
According to preliminary estimates, in the month of November 2022 the national consumer price index for the entire community (NIC), gross of tobacco, records an increase of 0.5% on a monthly basis and 11.8% on an annual basis (as in October).
Inflation remains stable on a trend basis due to the opposing trends of some expenditure aggregates: on the one hand, the prices of non-regulated energy goods are slowing down (from +79.4% to +69.9%), unprocessed food (from +12.9% to +11.4%) and Services relating to transport (from +7.2% to +6.8%); on the other accelerate the prices of regulated energy (from +51.6% to +57.9%), of Processed food goods (from +13.3% to +14.3%), of Other goods (from +4.6% to +5.0%) and of Recreational, cultural and personal care services (+5.2% to +5.5%).
Core inflation, excluding energy and fresh food, accelerates from +5.3% to +5.6%; that net of energy goods alone rose from +5.9% to +6.1%.
On an annual basis, the prices of goods show a slight slowdown (from +17.6% to +17.5%), while those of services remain stable (+3.8%); therefore, the negative inflationary differential between the latter and the prices of goods diminished slightly (from -13.8 in October to -13.7 percentage points).
The prices of food, home and personal care products recorded a modest acceleration on a trend basis (from +12.6% to +12.7%); they slow downon the contrary, those gods frequently purchased products (+8.9% to +8.8%).
The cyclical increase of the general index it is mainly due to the prices of regulated energy goods (+4.2%), unregulated energy (+2.2%), processed food (+1.5%) and non-durable goods (+0.6% ); on the other hand, mainly due to seasonal factors, the prices of recreational, cultural and personal care services (-0.4%) and services relating to transport (-0.2%) decreased.
The inflation acquired for 2022 is equal to +8.1% for the general index and +3.7% for the fund component.
According to preliminary estimates, theharmonized index of consumer prices (HICP) increases by 0.6% on a monthly basis and by 12.5% on an annual basis (from +12.6% in the previous month).
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