Spending prices in 2020 fell more than expected. Istat revises its estimate for December inflation and this is the result: in 2020 the prices of consumer goods fell in Italy by 0.2% instead of the estimated 0.1% (Nic, national price index at consumption for the entire community, gross of tobacco). A deflation, therefore, which is compared with a price increase of 0.6% in 2019, the year before the Covid pandemic. The drop in receipts is essentially affected by the prices of energy and fresh food, net of which the annual price index, on the contrary, grows: + 0.5%. Which rises to + 0.7% net of energy products alone.
Inflation for Italy remains negative in December for the eighth consecutive month, similar to what happened in 2016 and unlike what happened in 1959 (when it was also due to other types of products) – says a note from the Institute statistics – the negative annual change in the Nic index mainly attributable to the trend in the prices of energy goods (-8.4% compared to 2019) net of which inflation remains positive and slightly accelerating compared to the previous year.
Frosts on fruits and vegetables
the third time this has happened in 67 years. The decrease of 0.2%, in fact, the third recorded since 1954, since the historical series of the Nic index was available (-0.4% in 1959, -0.1% in 2016), says the Istat. On the other hand, prices rose month on month, i.e. November to December, in 2020: + 0.2%. The previous estimate was also different here, + 0.3%. According to Coldiretti’s analysis, the counter-trend in food prices emerges with increases reaching 1.9% for vegetables and 4% for fruit due to bad weather and frost.