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Harmonised competitiveness indicators based on unit labour costs indices for the total economy¹⁾: Italy

(period averages; index 1999 Q1=100)

2012	Q1	Q2	Q3	Q4
Notes: For the euro area, the real effective exchange rate of the euro vis-à-vis 20 trading partners is displayed. For euro area countries, the table shows the harmonised competitiveness indicators calculated vis-à-vis the same 20 trading partners plus the other euro area countries. A positive change points to a decrease in cost competitiveness. For further information please refer to the explanatory note.
1. Period average	105.8	105.3	104.4	105.8
2. Percentage change versus previous period	0.6	-0.4	-0.9	1.3
3. Percentage change versus previous year	-2.4	-3.5	-2.2	0.6
4. Percentage change since 1998 Q4	2.4	2.0	1.1	2.4