Italy's November Flash CPI likely to rise

Italy's November Preliminary CPI including tobacco on a month on month basis, is likely to be at 0.0, as per the consensus expectations and at 0.4 on a year on year basis.

HICP for the month of November is likely to be at -0.1 on a month on month basis and 0.3 on a yoy basis. There was recovery in oil prices, with food prices increasing, which are expected to help headline inflation. The core inflation is driven by higher services.

"We expect Italian HICP inflation to continue to increase for a second consecutive month, from to 0.3% yoy in October to 0.5% yoy in November and to average 0.2% in 2015 and 1.1% yoy in 2016. The core component should average 0.8% in 2015 and 1.2% in 2016", estimates Societe Generale.