Latest Updates

• Italy CPI: February 2026 (Preliminary) 2026-03-03 05:00

  

  Italy’s headline CPI rose +0.8% MoM and accelerated to +1.6% YoY in February (from +1.0% YoY in January), reflecting firmer service-sector and unprocessed food inflation.

  • The pickup in annual inflation was driven by Services related to transport, which accelerated to +3.0% YoY (from +0.7%), and Services related to recreation, repair and personal care, which increased to +4.9% YoY (from +3.0%), indicating stronger price pressures across key service categories.

  • Unprocessed food inflation rose to +3.6% YoY (from +2.5%), while Processed food including alcohol eased slightly to +1.7% YoY (from +1.9%), showing divergent trends within food components.

  • Regulated energy prices fell -11.3% YoY (from -9.6%) and Non-regulated energy declined -6.2% YoY (from -5.9%), signaling deeper annual contractions in energy even as overall inflation accelerated.

  • Goods prices remained unchanged at -0.2% YoY, while Services inflation increased to +3.6% YoY (from +2.5%), widening the services-goods inflation gap to +3.8 p.p. (from +2.7 p.p.), highlighting the growing divergence between categories.

  • On a MoM basis, the +0.8% rise was mainly driven by Tobacco (+3.3%), Services related to recreation (+2.1%), Services related to transport (+2.0%), Unprocessed food (+1.1%) and Non-regulated energy (+0.4%), partially offset by a -1.2% decline in Regulated energy.

  • The Harmonised Index of Consumer Prices (HICP) increased +0.6% MoM and +1.6% YoY (from +1.0% YoY in January), aligning with the national CPI in showing a renewed acceleration in annual inflation.

  

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• Italy CPI: January 2026 (Final) 2026-02-23 05:00

  

  

  

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• Italy CPI: January 2026 (Preliminary) 2026-02-05 05:00

  

  Italy’s CPI inflation eased from +1.2% YoY in December to +1.0% YoY in January, while the monthly increase (+0.4% MoM) reflected broad-based price gains across food, energy, and housing-related services.

  • Food inflation remained a key support to prices, with unprocessed food up +2.5% YoY and processed food including alcohol rising +2.2% YoY, alongside a +2.1% YoY increase in grocery and unprocessed food.

  • Services inflation stayed elevated, led by services related to housing at +4.4% YoY and recreation, repair, and personal care services at +3.0% YoY, highlighting continued strength in service-sector prices.

  • Tobacco prices increased +3.3% YoY, adding further upward pressure to the overall index.

  • Core inflation excluding energy and unprocessed food held at +1.8% YoY, while inflation excluding energy stood at +1.9% YoY, showing underlying price growth remained firmer than headline.

  • Goods prices declined -0.2% YoY while services rose +2.7% YoY, widening the services-goods inflation gap to +2.5 percentage points.

  • The MoM increase was driven mainly by regulated energy (+8.7%), housing-related services (+1.9%), unprocessed food (+1.2%), processed food including alcohol (+0.9%), and non-regulated energy (+0.8%), partially offset by a sharp decline in transport services (-3.7%).

  • The harmonised HICP fell -1.0% MoM but rose +1.0% YoY, down from +1.2% YoY in December, aligning with the moderation seen in the national index.

  

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• Italy CPI: December 2025 (Final) 2026-01-16 05:00

  

  

  

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• Italy CPI: December 2025 (Preliminary) 2026-01-07 05:00

  

  Italy’s CPI rose +0.2% MoM and accelerated to +1.2% YoY in December 2025, up from 1.1% YoY in November, reflecting firmer food and services inflation at year-end.

  • Headline inflation increased from +1.1% YoY in November to +1.2% YoY in December, while the monthly gain (+0.2% MoM) was driven by transport services and unprocessed food prices.

  • Core inflation excluding energy and unprocessed food edged up to +1.8% YoY (Nov: +1.7%), while inflation excluding energy increased slightly to +1.9% YoY (Nov: +1.7%).

  • Food inflation strengthened, with processed food including alcohol rising to +2.6% YoY (Nov: +2.1%) and unprocessed food accelerating to +2.3% YoY (Nov: +1.1%); unprocessed food also increased +0.4% MoM.

  • Energy prices remained a drag on inflation at -4.5% YoY, with regulated energy down -5.3% YoY (Nov: -3.2%) and non-regulated energy at -4.4% YoY, partially offsetting strength elsewhere.

  • Services inflation stayed elevated at +2.5% YoY (up from +2.3% YoY previously), with transport services accelerating sharply to +2.6% YoY (Nov: +0.9%) and rising +3.1% MoM, while recreation and personal care services slowed to +2.7% YoY and fell -0.4% MoM.

  • The harmonised index of consumer prices (HICP) increased +0.2% MoM and +1.2% YoY in December, a slight acceleration from 1.1% YoY in November, matching the national index and confirming a modest firming in Italian inflation at the end of 2025.

  

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• Italy CPI: November 2025 (Final) 2025-12-16 05:00

  

  

  

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• 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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