Consumer prices - May 2026

According to preliminary estimates, in May 2026 the Italian consumer price index for the whole nation (NIC) was +0.4% compared with the previous month and +3.2% on annual basis (up from +2.7% in the previous month).

The acceleration of inflation was mainly due to the dynamics of prices of Non-regulated energy products (from +9.6% to +12.6%), of Regulated energy products (from +5.3% to +5.8%), of Services related to transport (from +0.6% to +1.8%) and of Services related to recreation, including repair and personal care (from +2.6% to +3.0%).

As for Goods, the year on year growth rate was +3.5% (up from +3.1%) and for Services the annual rate of change was +2.8% (up from +2.4%). As a consequence, the inflationary gap between Services and Goods was stable (at -0.7 percentage points).

The month-on-month increase in the overall index was mainly due to the prices of Services related to recreation, including repair and personal care (+1.4%), of Unprocessed food (+0.6%), of Non-regulated energy products and Regulated energy products (+0.5% both), of Processed food including alcohol and and Durable goods (+0.3% both); on the othe hand, prices are risign compared to the previous month for Services related to transport (-0.5%).

In May 2026, according to preliminary estimates, the Italian harmonised index of consumer prices (HICP) recorded a month-on-month change of +0.4% and a year-on-year increase of +3.3% (from +2.8% in the previous month).