Italian Producer Inflation Hits 11-Month Low

Italy's producer prices increased 5.8% year-on-year in June 2026, easing from a 7.3% rise in the previous month. Domestic producer inflation slowed to 6.8% from 9.1%, while prices excluding energy accelerated slightly (2.9% vs 2.5%). Within manufacturing, price growth slowed for food, beverages and tobacco (-1.8%) and computer, electronic and optical products (-0.6%), while prices increased for coke and refined petroleum products (42.2%) and chemicals (8.0%). Meanwhile, inflation for electricity and gas supply eased to 8.9% from 12.6%. On foreign markets, producer prices accelerated to 3.1% from 2.7%, with prices rising 3.4% in the euro area and 2.8% outside it. Abroad, prices rose most for coke and refined petroleum products (18.1% non-euro area). On a monthly basis, producer prices were unchanged in June after a 0.2% decline in May.

Italy's producer prices surged 7.3% year-on-year in May 2026, the highest level since February 2023 and up from 6.8% in April. Domestic prices accelerated to 9.1% from 8.8% in the previous month, as electricity and gas price growth accelerated to 12.6% from 10.3%. Excluding energy, prices increased 2.4%. On foreign markets, prices increased 2.7%, rising 3.1% on the euro area and 2.4% elsewhere. By sector, coke and refined petroleum products recorded the largest increase at 67.6%, although easing from 79.1% in April, followed by chemicals (8.0%) and metallurgy and fabricated metal products, excluding machinery and equipment (5.8%). Abroad, coke and refined petroleum products also led the gains, rising 41.4%, followed by other manufacturing industries, repair and installation of machinery and equipment (8.6% euro area, 11.7% non-euro area). On a monthly basis, producer prices fell 0.2% in May, reversing April's 0.3% increase.

Italy’s producer prices surged 6.8% year-over-year in April 2026, the steepest increase since February 2023, driven by soaring energy prices linked to the Iran conflict. Domestic prices climbed 8.8%, up from 5.4% in March, while core inflation (excluding energy) accelerated to 2.0% from 1.5%. In foreign markets, prices rose 0.6% (0.9% in the euro area, 0.3% outside it). By sector, domestic prices saw the sharpest gains in coke and refined petroleum products (+79.1%), followed by chemicals and metallurgy (+5.6%). Abroad, coke and refined petroleum products led non-euro area growth (+32.2%), while other manufacturing and transportation equipment posted notable increases in both the euro area (+6.2%) and non-euro area (+11.6%). Month-over-month, producer prices rose 0.3% after a 4.4% surge in March.