Istat confirms, inflation is on the rise: +11.6% in December, +8.1% in 2022

Inflation continues to run in Italy. In December, the growing figure was confirmed, albeit with a slight slowdown compared to the November data. The consumer price index grew by 0.3% on a monthly basis and by 11.6% on an annual basis (from +11.8% in the previous month), in line with preliminary data. On average, in 2022 consumer prices grew by 8.1% (+1.9% in 2021), marking the largest increase since 1985 (when it was +9.2%), mainly due to the trend of energy prices.
On average in 2022, net of energy and fresh food, the so-called core inflation, consumer prices will increase by 3.8% (+0.8% in the previous year) and net of energy alone by 4, 1% (+0.8% in 2021), also indicates Istat. Last December, the slowdown in inflation on a trend basis was mainly due to the prices of unregulated Energy (which, while maintaining sustained growth, rose from +69.9% to +63.3%), unprocessed Food (from +11.4% to +9.5%) and Services relating to transport (from +6.8% to +6.0%); on the other hand, support for the inflation trend derives from the acceleration in the prices of regulated energy (from +57.9% to +70.2%), processed food (from +14.3% to +14.9% ), recreational, cultural and personal care services (from +5.5% to +6.2%) and services relating to communications (from +0.2% to +0.7%). In December 2022, core inflation accelerated from +5.6% to +5.8% and that net of energy goods alone rose from +6.1% to +6.2%. The monthly increase in the general index is mainly due to the growth, on the one hand, of the prices of regulated energy (+7.8%), of processed food (+0.8%) and of other goods (+ 0.7%), on the other hand, due to seasonal factors, Recreational, cultural and personal care services (+1.4%) and Services relating to transport (+1.1%). The effects of these increases were only partially offset by the decrease in the prices of unregulated energy (-3.9%) and unprocessed food (-0.6%). The harmonized index of consumer prices (Ipca) increased by 0.2% on a monthly basis and by 12.3% on an annual basis (from +12.6% in November), confirming the preliminary estimate. The average annual change in 2022 is +8.7% (+1.9% in 2021). The national consumer price index for blue-collar and white-collar households (Foi), net of tobacco, increased by 0.3% on a monthly basis and by 11.3% compared to December 2021.
Where inflation runs faster
The acceleration of inflation that characterizes 2022 (+8.1% the average for the year) is found in all geographical areas and in all regions, among which Sicily is in the lead (+9.7%) followed by Valle d’Aosta (+6.9%). Istat data on the prices of consumer goods relating to geographical areas underline that inflation is sustained and accelerating compared to that of 2021. This is the situation in the country: the Islands (from +2.2% in 2021 to +9, 7%), the North-East (+2.0% to +8.6%), the South (+2.1% to +8.2%), the Center and the North-West (from 1 .7% for both respectively to +7.9% and +7.8%, below the national figure). At the regional level, there are eleven regions (Sicily, Trentino Alto Adige, Sardinia, Liguria, Abruzzo, Puglia, Umbria, Veneto, Emilia Romagna, Friuli Venezia Giulia, Tuscany) in which inflation in 2022 is higher than the national one; in Calabria it is equal to the national figure, while the growth in consumer prices is below the remaining eight regions (Campania, Lombardy, Lazio, Marche, Molise, Piedmont, Basilicata, Valle d’Aosta). In the month of last December alone, Istat also indicates, inflation is confirmed above the national figure (+11.6% on an annual basis) in the Islands (slowing down from +14.1% to +13.9 %) and in the South (stable at +11.7%), while it is below in the North-East (decelerating from +11.8% to +11.5%), in the North-West (stable at +11 .4%) and in the Center (a slowdown from +11.5% +11.0%). Among the capitals of regions and autonomous provinces and among non-regional capitals with more than 150,000 inhabitants, the highest inflation is observed in Catania (+14.7%), Palermo (+14.6%) and Messina (+13.9%), while the smallest trend changes are recorded in Potenza (+9.2%) and Aosta (+8.5%). (