Consumer prices - April 2025

Final data

In April 2025 the rate of change of the Italian consumer price index for the whole nation (NIC) was +0.1% on monthly basis and +1.9% with respect to April 2024 (the same as in March); the flash estimate was +2.0%.

The stabilization of the growth on annual basis of All-item index underlies contrasting trends: the prices of Non-regulated energy products (from +0.7% to -3.4%) and of Tobaco (from +4.6% to +3.4%) slowed down; on the contrary, the prices of Regulated energy products (from +27.2% to +31.7%), of Unprocessed food (from +3.3% to +4.2%), of Processed food including alcohol (from +1.9% to +2.2%) and of Services related to transport (from +1.6% to +4.4%) have increased.

In April 2025, core inflation (excluding energy and unprocessed food) was +2.1% (up from +1.7% in March) and inflation excluding energy was +2.2% (up from +1.8% in the previous month).

As for Goods, the year on year growth rate was +1.0% (from +1.5% in March) and for Services the annual rate of change was +3.0% (up from +2.5%). As a consequence, the inflationary gap between Services and Goods increased (from +1.0 percentage points in March to +2.0).

Prices of Grocery and unprocessed food increased by 0.6% on monthly basis and by 2.6% on annual basis (up from +2.1% in the previous month).

The increase on monthly basis of NIC was mainly due to the prices of Services related to transport (+3.4%), of Services related to recreation, including repair and personal care (+1.8%), both of which are affected by seasonal factors; Unprocessed food prices (+0.7%), Processed food including alcohol prices (+0.5%) and Services related to housing prices (+0.3%) also increasing; on the other hand the prices of Regulated energy products (-6.9%), of Non-regulated energy products (-5.8%) and of Durable goods (-0.3%) decreased.

In April 2025 the Italian harmonised index of consumer prices (HICP) increased by 0.4% on monthly basis, mainly due to the end of the winter sales of Clothing and footwear (not considered by NIC), and by 2.0% on annual basis (down from +2.1% in March); the flash estimate was +2.1%.