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CortometraggiTrascrizione
00:00Looking at inflation. Annual inflation increased to 2.4% in December, up from 2.2% in November.
00:12As in the previous month, the increase was expected and primarily reflected past sharp
00:19drops in energy prices falling out of the calculation. Along with the month-on-month
00:25increase in December, this led energy prices slightly higher on an annual basis, after
00:32four consecutive declines. Food price inflation edged down to 2.6% and goods inflation to
00:420.5%. Services inflation edged up to 4%. Most underlying indicators have been developing
00:55in line with the sustained return of inflation to our medium-term target.
01:00Domestic inflation, which closely tracks services inflation, has remained high as wages
01:08and some services prices are still adjusting to the past inflation surge with a substantial
01:15delay. At the same time, recent signals point to continued moderation in wage pressures
01:24and to the buffering role of profits. We expect inflation to fluctuate around its
01:32current level in the near term. It should then settle sustainably at around the 2% medium-term
01:39target.