Annual inflation rate in Italy was revised slightly lower to 6.8% in May of 2022 from initial estimates of 6.9%. Still, it is the highest inflation rate since 1986, prompted by a broad-based increase in consumer prices, namely energy (42.6%), food (7.1%), repair and personal care (4.4%), and services related to transport (6%). Core inflation which excludes prices of energy and unprocessed food increased to 3.2% from 2.4% and excluding energy only, it accelerated to 3.6% from 2.9%. Compared to the previous month, consumer prices were up 0.8%, slightly below preliminary estimates of 0.9%. source: National Institute of Statistics (ISTAT)
Inflation Rate in Italy averaged 5.77 percent from 1962 until 2022, reaching an all time high of 25.64 percent in November of 1974 and a record low of -0.60 percent in January of 2015. 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 June of 2022.
Inflation Rate in Italy is expected to be 7.20 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 2.20 percent in 2023 and 1.80 percent in 2024, according to our econometric models.