The Italian headline inflation rate rose to 3.2% in May of 2026 from 2.7% in the previous month, aligning with the market consensus to mark the highest inflation rate since September of 2023. The increase was consistent with that from other large Eurozone economies as tight oil an gas supply since the outbreak of war in the Middle East lifted price growth across energy importers. Prices accelerated for both non-regulated energy (12.6% vs 9.6% in April) and regulated energy prices (5.8% vs 5.3%). Likewise, inflation was higher for transportation services (1.8% vs 0.6%) and recreational and cultural services (3% vs 2.6%). Core inflation, which excludes food and energy prices, rose to 1.8% from 1.6% in the earlier period. From the previous month, the Italian CPI rose by 0.4%, slowing from the 1.1% increase in April. source: National Institute of Statistics (ISTAT)

Inflation Rate in Italy increased to 3.20 percent in May from 2.70 percent in April of 2026. Inflation Rate in Italy averaged 5.43 percent from 1958 until 2026, reaching an all time high of 25.68 percent in January of 1975 and a record low of -2.63 percent in April of 1959. This page provides the latest reported value for - Italy Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Italy Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2026.

Inflation Rate in Italy increased to 3.20 percent in May from 2.70 percent in April of 2026. Inflation Rate in Italy is expected to be 3.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Italy Inflation Rate is projected to trend around 2.60 percent in 2027 and 2.40 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-05-15 08:00 AM
Inflation Rate YoY Final
Apr 2.7% 1.7% 2.8% 2.8%
2026-05-29 09:00 AM
Inflation Rate YoY Prel
May 3.2% 2.7% 3.2% 3.2%
2026-06-16 08:00 AM
Inflation Rate YoY Final
May 2.7% 3.2% 3.2%



Components Last Previous Unit Reference
Energy Inflation 9.20 -2.10 percent Apr 2026
Food Inflation 2.90 2.90 percent May 2026
Services Inflation 2.40 2.80 percent Apr 2026

Related Last Previous Unit Reference
CPI Prel 103.10 102.70 points May 2026
Core Consumer Prices 101.90 101.50 points May 2026
Core Inflation Rate 1.80 1.60 percent May 2026
CPI Housing Utilities 105.20 105.30 points May 2026
CPI Transportation 104.60 104.40 points May 2026
Export Prices 133.60 133.50 points Mar 2026
GDP Deflator 116.84 116.05 points Dec 2025
Harmonised Consumer Prices 103.30 101.70 points Apr 2026
Import Prices 123.70 124.50 points Mar 2026
Inflation Rate YoY 3.20 2.70 percent May 2026
Inflation Rate MoM 0.40 1.10 percent May 2026
Producer Prices 130.30 129.90 points Apr 2026
PPI YoY 6.80 4.20 percent Apr 2026


Italy Inflation Rate
In Italy, the most important categories in the Consumer Price Index are: food and non-alcoholic beverages (18 percent of total weight); transport (14 percent); and housing, water, electricity and other fuels (11 percent). The index also includes: miscellaneous goods and services (9 percent); restaurants and hotels (9 percent); health (9 percent); furnishings, household equipment and maintenance (8 percent); recreation and culture (7 percent); and clothing and footwear (6 percent). Alcoholic beverages and tobacco, communication, and education contribute to the remaining 7 percent of total weight.
Actual Previous Highest Lowest Dates Unit Frequency
3.20 2.70 25.68 -2.63 1958 - 2026 percent Monthly

News Stream
Italy Inflation Rate Rises to Over 2-Year High
The Italian headline inflation rate rose to 3.2% in May of 2026 from 2.7% in the previous month, aligning with the market consensus to mark the highest inflation rate since September of 2023. The increase was consistent with that from other large Eurozone economies as tight oil an gas supply since the outbreak of war in the Middle East lifted price growth across energy importers. Prices accelerated for both non-regulated energy (12.6% vs 9.6% in April) and regulated energy prices (5.8% vs 5.3%). Likewise, inflation was higher for transportation services (1.8% vs 0.6%) and recreational and cultural services (3% vs 2.6%). Core inflation, which excludes food and energy prices, rose to 1.8% from 1.6% in the earlier period. From the previous month, the Italian CPI rose by 0.4%, slowing from the 1.1% increase in April.
2026-05-29
Italy Inflation Accelerates in April
Italy’s annual inflation rate accelerated sharply to 2.7% in April 2026, up from 1.7% in March and just below the preliminary estimate of 2.8%. This marks the highest level since 2023, driven largely by a strong rebound in energy prices (9.2% versus -2.1%), in both regulated (9.6% versus -2%) and unregulated (5.3% versus -1.6%). Goods inflation accelerated to 3.1% from 0.8% in March, supported by faster growth in unprocessed food prices (5.9% versus 4.7%). In contrast, services inflation slowed (2.4% versus 2.8%), reflecting slower price increases for recreational, cultural, and personal care services (2.6% versus 3%) and transports (0.6% versus 2.2%). Meanwhile, annual core inflation slowed to 1.9% from 2.1%. Harmonized inflation (HIPC) accelerated (2.8% versus 1.6%). On a monthly basis, consumer prices rose 1.1%, slightly below estimates of a 1.2% rise but up notably from 0.5% in March, marking the strongest monthly increase since October 2022.
2026-05-15
Italy Inflation Rate Hits 2023-Highs
Italy’s annual inflation rate rose sharply to 2.8% in April 2026, up from 1.7% in March and above market expectations, according to preliminary estimates. This marking the highest level since 2023, as increasing energy prices reflect Italy’s reliance on imported gas for electricity and heating, with prices rebounding for both unregulated (9.9% vs -2%) and regulated (5.7% vs -1.6%). Goods prices surged (3.2% versus 0.8%), as unprocessed food inflation accelerated to 6% from 4.7%. Services' inflation slowed (2.4% vs 2.8%), easing for recreational, cultural and personal care services (2.6% vs 3%) and transportation (0.5% vs 2.2%). In contrast, housing-related inflation edged up (2.5% vs 2.2%). Core inflation, which excludes energy and fresh food, eased to 1.6% from 1.9%, while inflation excluding energy alone slowed less to 2% from 2.1%. The HIPC increased 2.9% year-on-year and 1.7% month-on-month. On a monthly basis, consumer prices increased 1.2%, the highest level since October 2022.
2026-04-30