Italy December preliminary CPI 1.3% vs 1.5% y/y expected

• Prior 1.3%
• HICP 1.4% vs 1.6% y/y expected
• Prior 1.5%
• Core CPI Y/Y 1.8% vs. 1.9% prior

Core inflation (excluding energy and unprocessed food) was +1.8% (from
+1.9% in the previous month) and inflation excluding energy was +1.7%
(from +2.0% in November).

In 2024, the average annual rate of change of consumer prices, measured
by NIC, was +1.0% (+5.7% in 2023); core inflation, excluding energy and
unprocessed food, was +2.0% (from +5.1% in 2023) and inflation excluding
energy was +2.1% (+5.3% in 2023).