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.

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Italy Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-05-31 09:00 AM Inflation Rate YoY Prel May 6.9% 6% 6.2% 6.3%
2022-06-16 08:00 AM Inflation Rate YoY Final May 6.8% 6% 6.9% 6.9%
2022-07-01 09:00 AM Inflation Rate YoY Prel Jun 6.8% 7.4% 7.8%


Related Last Previous Unit Reference
Inflation Rate 6.80 6.00 percent May 2022
Inflation Rate Mom 0.80 -0.10 percent May 2022
Harmonised Consumer Prices 112.70 111.70 points May 2022
Consumer Price Index CPI 111.30 110.30 points May 2022
Core Inflation Rate 3.30 2.40 percent May 2022
Core Consumer Prices 106.80 106.20 points May 2022
GDP Deflator 107.00 105.87 points Mar 2022
Producer Prices 142.50 142.20 points Apr 2022
Producer Prices Change 35.30 36.90 percent Apr 2022
Export Prices 140.50 138.70 points Apr 2022
Import Prices 159.90 151.90 points Apr 2022
Food Inflation 7.50 6.40 percent May 2022
CPI Transportation 118.00 116.80 points May 2022
CPI Housing Utilities 132.20 129.90 points May 2022

Italy Inflation Rate
In Italy, the most important categories in the Consumer Price Index are: food and non-alcoholic beverages (16 percent of total weight); transport (15 percent); restaurants and hotels (12 percent); housing, water, electricity and other fuels (10 percent); and miscellaneous goods and services (10 percent). The index also includes: health (9 percent); recreation and culture (8 percent); clothing and footwear (7 percent); and furnishing and household equipment (7 percent). Alcoholic beverages, tobacco, communication and education contribute with the remaining 6 percent.
Actual Previous Highest Lowest Dates Unit Frequency
6.80 6.00 25.64 -0.60 1962 - 2022 percent Monthly

News Stream
Italy Inflation Rate Revised Slightly Lower but Holds at 1986-Highs
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%.
2022-06-16
Italy Inflation Above Expectations at 36-Year High
The annual inflation rate in Italy likely accelerated to 6.9 percent in May of 2022, the highest since March of 1986 and well above market estimates of a 6.3 percent rise, compared to a 6 percent increase in the previous month, according to preliminary estimates. Costs rose faster for energy goods (42.2 percent vs 39.5 percent in April), which were the main drivers of inflation recently, mainly for unregulated energy (32.4 percent vs 29.8 percent). Prices also increased for food (7.1 percent vs 6.1 percent), carried by processed food (6.8 percent vs 5 percent), and recreational services (4.4 percent vs 2.4 percent). The annual core inflation rate, which excludes energy and unprocessed food, rose 3.3 percent from a downwardly revised 2.4 percent in the prior month. On a monthly basis, consumer prices were likely 0.9 percent higher, picking up from the 0.1 percent decrease in the prior month.
2022-05-31
Italy Inflation Revised Lower
The annual inflation rate in Italy eased to 6 percent in April of 2022 from the 30-year high of 6.5 percent in the previous month, below preliminary estimates of 6.2 percent. While remaining well above the target of the ECB, it was the first decrease in inflation since September of 2020. Costs slowed for energy (39.5 percent vs 50.9 percent in March), both for the regulated (64.3 percent vs 94.6 percent) and unregulated (29.8 percent vs 36.4 percent) kinds. Inflation also decelerated for recreational and cultural services (2.4 percent vs 3.3 percent). On the other hand, prices picked up for transportation services (5.1 percent vs 1 percent), processed foods (5 percent vs 3.9 percent), and durable goods (2.2 percent vs 1.6 percent). On a monthly basis, prices decreased by 0.1 percent, compared to the 1 percent increase in the prior month and preliminary estimates of a 0.2 percent rise. Also, the EU harmonized index advanced 6.3 percent on the year and 0.3 percent on the month.
2022-05-17