Latest Updates

• Italy CPI: November 2025 (Preliminary) 2025-11-28 05:00

  

  Italy’s CPI fell -0.2% MoM in November 2025 and held steady at +1.2% YoY, reflecting offsetting moves across food, energy, goods, and services.

  • Core inflation (excluding energy and unprocessed food) eased to +1.8% YoY (Oct: +1.9%), and inflation excluding energy also slowed to +1.8% YoY (Oct: +1.9%), indicating softer underlying pressures.

  • Goods inflation edged up to +0.3% YoY (Oct: +0.2%), while services inflation slowed to +2.2% YoY (Oct: +2.6%), narrowing the goods–services inflation gap to 1.9 ppts.

  • Food inflation was mixed: processed food rose +2.7% YoY (Oct: +2.5%), while unprocessed food slowed to +1.4% YoY (Oct: +1.9%). Grocery and unprocessed food rose +0.4% MoM but eased to +1.9% YoY (Oct: +2.1%).

  • Energy prices remained a drag, with regulated energy falling -3.3% YoY (Oct: -0.5%) and non-regulated energy at -4.4% YoY (Oct: -4.9%).

  • Durable goods inflation strengthened to -0.1% YoY (Oct: -0.8%), while non-durable goods slowed to +1.0% YoY (Oct: +1.3%).

  • Service categories showed broad deceleration: recreation and personal care rose +2.9% YoY (Oct: +3.3%), transport slowed to +0.8% YoY (Oct: +2.0%), and communication fell to -0.8% YoY (Oct: -0.3%).

  • The Harmonised Index of Consumer Prices (HICP) declined -0.2% MoM and slowed to +1.1% YoY (Oct: +1.3%), aligning with the broader easing in domestic inflation.

  

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• Italy CPI: October 2025 (Final) 2025-11-17 05:00

  
• Italy CPI: October 2025 (Preliminary) 2025-10-31 05:00

  

  Italy’s CPI fell -0.3% MoM and slowed to +1.2% YoY (vs +1.6% YoY expected) in October 2025 (from +1.6% in September), reflecting weaker energy and food prices alongside steady service inflation.

  • Core inflation (ex-energy and unprocessed food) held at +2.0% YoY, while CPI excluding energy eased slightly to +2.0% (from +2.1%).

  • Goods inflation weakened to +0.2% YoY (from +0.6%), while services inflation was unchanged at +2.6%, widening the goods–services gap to +2.4 ppts.

  • Energy prices declined sharply, with regulated energy down -6.7% MoM and +0.8% YoY (vs +13.9%), and non-regulated energy -0.8% MoM and -5.2% YoY.

  • Food inflation moderated to +1.9% YoY (from +4.8%), with processed food up +2.8% and unprocessed food slowing sharply to +1.9%.

  • Grocery and unprocessed food rose +0.2% MoM but eased to +2.3% YoY (from +3.1%), reflecting lower fresh food prices.

  • Transport service prices fell -0.3% MoM and slowed to +2.0% YoY (from +2.4%), while recreation, repair, and personal care services rose +3.3% YoY (from +3.1%).

  • The Harmonised Index of Consumer Prices (HICP) decreased -0.2% MoM and rose +1.3% YoY (down from +1.8%), mirroring the broader CPI slowdown.

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• Italy CPI: September 2025 (Final) 2025-10-16 05:00

  
• Italy CPI: September 2025 (Preliminary) 2025-09-30 05:00

  

  Italy’s CPI fell -0.2% MoM (vs +0.2% MoM expected) but held steady at +1.6% YoY (vs 1.7% YoY expected) in September 2025, with offsetting trends across food and energy components.

  • Core inflation (ex energy and unprocessed food) was stable at +2.1% YoY, while CPI excluding energy eased to +2.1% YoY (from +2.3% in August).

  • Goods inflation edged up to +0.7% YoY (from +0.6%), while services inflation slowed slightly to +2.6% YoY (from +2.7%), narrowing the goods-services gap to +1.9 ppts.

  • Unprocessed food inflation eased to +4.8% YoY (from +5.6%), while processed food including alcohol accelerated to +3.0% YoY (from +2.7%).

  • Energy prices diverged, with regulated energy rising +14.0% YoY (from +12.9%), and non-regulated energy at -3.7% YoY (vs -4.8%).

  • Grocery and unprocessed food prices were flat MoM but fell -3.2% YoY, reversing from +3.4% in August.

  • Transport services prices dropped sharply -3.3% MoM, the main driver of the monthly CPI decline.

  • The HICP rose +1.3% MoM due to clothing and footwear price resets post-sales, pushing the annual rate up to +1.8% (up from +1.6%).

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• Italy CPI: August 2025 (Final) 2025-09-16 05:00

  

  Italy’s CPI rose +0.1% MoM and +1.6% YoY in August 2025 (unrevised from the flash estimate), slightly easing from July’s +1.7% YoY pace, as lower energy inflation offset firmer food and services prices.

  • Regulated energy inflation slowed to +12.9% YoY (from +17.1%), while non-regulated energy prices fell -6.3% YoY (vs -5.2% in July).

  • Unprocessed food inflation accelerated to +5.6% YoY (from +5.1%), with grocery and unprocessed food up +0.2% MoM and +3.4% YoY (vs +3.2% in July).

  • Services-related inflation strengthened: recreation rose to +3.0% YoY (from +2.7%), and transport services to +3.5% YoY (from +3.3%).

  • Processed food inflation edged down to +2.7% YoY (from +2.8%), and services related to communication slowed to +0.2% YoY (from +0.5%).

  • Core inflation picked up to +2.1% YoY (from +2.0%), while inflation excluding energy rose to +2.3% YoY (from +2.2%).

  • Goods inflation slowed to +0.6% YoY (from +0.8%), while services inflation edged higher to +2.7% YoY (from +2.6%), widening the services–goods gap to +2.1 ppts.

  • On a monthly basis, transport services (+2.1%), processed food (+0.5%), and recreation-related services (+0.4%) led increases, while non-regulated energy (-2.1%) and regulated energy (-0.3%) declined.

  • The harmonised HICP fell -0.2% MoM due to summer sales, but rose +1.6% YoY (down from +1.7% in July), confirming the flash estimate.

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• Italy CPI: August 2025 (Preliminary) 2025-08-29 05:00

  

  Italy’s CPI rose +0.1% MoM (vs 0.2% MoM expected) and +1.6% YoY (vs 1.7% YoY expected) in August 2025 (vs +1.7% YoY in July), with slower energy inflation offset by firmer food and services prices.

  • Core inflation was 0.3% MoM and ticked up to +2.1% YoY (from +2.0%), while CPI excluding energy rose +2.3% YoY (from +2.2%).

  • HICP fell -0.2% MoM due to summer sales but remained steady at +1.7% YoY while core HICP inflation ticked up 0.1 ppts to 2.2% YoY.

  • Goods inflation eased to +0.6% YoY (from +0.8%), while services inflation edged up to +2.7% YoY (from +2.6%), widening the services-goods gap to +2.1 ppts.

  • Energy prices slowed, with regulated energy at +12.9% YoY (vs +17.1%) and non-regulated energy at -5.9% YoY (vs -5.2%).

  • Food accelerated: unprocessed food rose +5.6% YoY (vs +5.1%), processed food including alcohol +3.0% (vs +2.8%), and grocery/unprocessed food +3.5% YoY (vs +3.2%).

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• Italy CPI: July 2025 (Final) 2025-08-11 05:00
  

  Italy’s CPI rose +0.4% MoM and +1.7% YoY in July 2025, unchanged from June and in line with the flash estimate, with core inflation steady at +2.0% YoY.

  • HICP inflation was -1.0% MoM due to summer sales and rose +1.7% YoY (down from +1.8% YoY in June), confirming the flash estimate.
  • Prices for unprocessed food (+5.1% YoY), processed food including alcohol (+2.8% YoY), and services related to transport (+3.3% YoY) accelerated, while regulated energy (+17.1% YoY), non-regulated energy (-5.2% YoY), and recreation-related services (+2.7% YoY) slowed.
  • Goods inflation eased to +0.8% YoY (from +0.9%), while services inflation edged down to +2.6% YoY (from +2.7%), keeping the services-goods gap at +1.8 ppts.
  • Grocery and unprocessed food prices were flat MoM but rose +3.2% YoY (up from +2.8% YoY in June).
  • MoM gains were led by non-regulated energy (+2.2%), regulated energy (+1.2%), and transport services (+0.9%), while unprocessed food (-0.6%) and durable goods (-0.3%) declined.

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• Italy CPI: July 2025 (Preliminary) 2025-07-31 05:00
  

  Italy’s CPI rose 0.4% MoM in July 2025, keeping the annual inflation rate steady at 1.7% YoY, as energy prices dragged while food and transport services inflation accelerated.

  • Core inflation held at 2.0% YoY, while inflation excluding energy ticked up to 2.2% (from 2.1%).
  • Unprocessed food inflation accelerated to 5.1% YoY (from 4.2%) despite a -0.6% MoM drop; processed food rose 0.5% MoM and 3.1% YoY (from 2.7%).
  • Services inflation eased to 2.6% YoY (from 2.7%), but transport services rose 1.0% MoM and 3.4% YoY.
  • Energy inflation softened: regulated energy slowed to +16.7% YoY (from 22.6%), while non-regulated energy fell -5.8% YoY (from -4.2%) despite a 1.6% MoM gain.
  • HICP declined -1.0% MoM (due to summer sales) and rose 1.7% YoY, down from 1.8% YoY in June.

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• Italy CPI: June 2025 (Final) 2025-07-16 05:00
  

  Italy’s CPI inflation in June was confirmed at 0.2% MoM and 1.7% YoY, slightly above the 1.6% YoY increase in May.

  • HICP inflation was 0.2% MoM and 1.8% YoY as the annual rate was revised up from 1.7% YoY.
  • Food inflation was revised down from 0.2% MoM and 3.5% YoY in the preliminary estimate to 0.0% and 3.3% YoY.
  • Energy inflation was revised up from -1.2% MoM and -2.5% YoY in the preliminary estimate to -0.8% MoM and -2.1% YoY.
  • Goods inflation was revised down from -0.1% MoM and 1.0% YoY in the preliminary estimate to -0.2% MoM and 0.9% YoY.
  • Due to a downward revision to processed food, core inflation was revised down from 0.4% MoM and 2.1% YoY in the preliminary estimate to 0.3% MoM and 2.0% YoY.

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• Italy CPI: June 2025 (Preliminary) 2025-06-30 05:00
  

  Italy’s CPI rose 0.2% MoM (vs 0.2% MoM expected) in June, while the annual inflation rate ticked up to 1.7% YoY (vs 1.7% YoY expected) from 1.6% in May, as stronger food and services inflation offset further declines in energy prices.

  • Core inflation was 0.4% MoM and accelerated to 2.1% YoY, up from 1.9%.
  • HICP inflation was 0.2% MoM (vs 0.3% MoM expected) and 1.7% YoY (vs 1.7% YoY expected), unchanged from the previous month.
  • Unprocessed food prices jumped 4.2% YoY (from 3.5%) despite a -0.4% MoM decline, while processed food rose 0.6% MoM and 3.0% YoY.
  • Energy prices continued to drag down -1.2% MoM and -2.5% YoY, with regulated energy down -2.9% MoM and slowing to +22.7% YoY (from +29.3%), and non-regulated energy down -1.1% MoM and -4.6% YoY.
  • Services inflation picked up slightly to 2.7% YoY from 2.6% YoY, driven by a 1.1% MoM rise in transport services and a 0.8% MoM increase in recreation/personal care.
  • Goods inflation rose to 1.0% YoY from 0.8% YoY, with durable goods flat MoM and non-durable goods up 0.2% MoM.

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• Italy CPI: May 2025 (Final) 2025-06-16 05:00
  

  Italy’s CPI fell -0.1% MoM in May and rose 1.6% YoY, below the initial estimate of 0.0% MoM and 1.7% YoY.

  • Core inflation was revised down to 0.1% MoM and 1.9% YoY, down from 0.2% MoM and 2.0% YoY.
  • Goods inflation saw the largest revisions from 0.0% MoM and 1.1% YoY in the first estimate to -0.2% MoM and 0.8% YoY in the final estimate.
  • Food and energy were both revised down from 0.8% MoM and -1.9% MoM to 0.5% MoM and -2.0% YoY, respectively.
  • HICP inflation was -0.1% MoM and 1.7% YoY, revised down from the initial estimate of 0.1% MoM and 1.9% YoY.

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