56901
Italy in Deflation for First Time  Since 1959
Italy in Deflation for First Time  Since 1959

Italy in Deflation for First Time Since 1959

Italy in Deflation for First Time Since 1959

Italian consumer prices fell in 2016, the first year of deflation since 1959, official data published Wednesday showed, AFP reported. Prices slipped by 0.1% last year from 2015, according to provisional figures from the national statistics institute Istat. Italian consumer prices already showed their weakest increase in decades in 2015, rising by just 0.1%. Although inflation went negative in 2016, there was a pickup in prices towards the end of the year. In November they rose by 0.1% year-on-year and in December by 0.5%0, surprising analysts who had been expecting 0.3%. In November, Istat said it expected zero inflation in 2016 and 1% in 2017. Analysts at Intesa Sanpaolo said, however, that they do not expect price rises to exceed 0.8% this year. Meanwhile, Italy’s deflation shows a “dramatic situation” and highlights the need for a “change of pace” in government policy, consumer groups Federconsumatori and Adusbef said Wednesday. “We need investments to relaunch jobs and controls on price hikes,” they said.

 

Short URL : https://goo.gl/YFwneh
  1. https://goo.gl/6mh2Su
  • https://goo.gl/yqb5p4
  • https://goo.gl/vYuHsG
  • https://goo.gl/lMcmeE
  • https://goo.gl/ejZtiH

You can also read ...

Bithumb Hacked, $32m in Cryptocurrency Stolen
Cryptocurrencies dropped after the second South Korean...
South Africa GDP Shrinks
South African gross domestic product shrank 2.2% in the first...
Washington in March imposed tariffs of 25% on steel and 10% on aluminum, in a move mainly aimed at curbing imports from China.
Russia said on Tuesday it would impose import duties on US...
Saudi Arabia, which employs about two-thirds of its citizens, is chipping away at a budget deficit that ballooned to almost 16% of GDP after the oil shock of 2014, while FDI slumped more than 80% last year.
Show up, swipe in. The routine is familiar to office workers...
Taxes in Italy Drive Economy Underground
Italy grew rapidly over the 20th century, and its black market...
Australian Telecom Co. to Axe 8,000 Jobs
Australia’s dominant telecommunications company Telstra...
European businesses say it has become harder to do  business in China over the past year.
European companies complain they still face a tough business...
South Korea to Grow 3 Percent
The Organization for Economic Cooperation and Development has...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus