Rome

Italian inflation rate drops to 2.3%, lowest since Jan 2011

Istat revises down figure for December

Italian inflation rate drops to 2.3%, lowest since Jan 2011

Rome, January 15 - Inflation in recession-hit Italy reached its lowest level since January 2011 in December when it dropped to 2.3%, Istat said Tuesday after revising down its initial estimate. Earlier this month the national statistics put the December year-on-year inflation figure at 2.4%. The revised figure is down on 2.5% in November and marked the third consecutive drop in the inflation rate. Istat said the reduction was largely down to rises in energy prices slowing last month. The agency confirmed that the average inflation rate in 2012 was 3.0%, the highest since 2008. It said that so-called 'trolley' of most frequently bought goods like groceries and petrol also hit a post-2008 high, of 4.3% last year.

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