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Italy's inflation rate drops to 0.7%

Lowest level since 2009

12 December, 11:40
Italy's inflation rate drops to 0.7% (ANSA) - Rome, December 12 - Italy's annual inflation rate dropped to 0.7% in November, down from 0.8% in October, national statistics agency Istat said Thursday.

The agency revised up its initial inflation forecast of 0.6% but, even so, November's level was the lowest since 2009.

Price's actually fell 0.3% last month with respect to October, Istat said, adding that this was the third consecutive month-on-month fall.

Italy's long recession has dampened price rises.

A two-year run of negative growth ended in the third quarter of this year, when GDP was flat with respect to the April-June period.