Consumer prices - February 2025

Final data

In February 2025 the rate of change of the Italian consumer price index for the whole nation (NIC) was +0.2% on monthly basis and +1.6% with respect to February 2024 (from +1.5% in January 2025); the flash estimate was +1.7%

The increase of the growth on annual basis of All-item index was mainly due to the prices of Regulated energy products (from +27.5% to +31.4%), of Non-regulated energy products (from -3.0% to -1.9%), of Unprocessed food (from +2.2% to +2.9%) and of Processed food including alcohol (from +1.7% to +1.9%). On the contrary, the prices of Services related to transport (from +2.5% to +1.9%), of Services related to communication (from +1.1% to +0.5%) and of Services related to recreation, including repair and personal care (from +3.3% to +3.1%) slowed down.

In February 2025, core inflation (excluding energy and unprocessed food) decreases, as does inflation excluding energy (both year on year growth rate drop from +1.8% to +1.7%).

As for Goods, the year on year growth rate was +1.1% (from +0.7% in January) and for Services the annual rate of change was +2.4% (down from +2.6%). As a consequence, the inflationary gap between Services and Goods decreased (from +1.9 percentage points in January to +1.3).

Prices of Grocery and unprocessed food recorded a zero variation on monthly basis and increased by 2.0% on annual basis (up from +1.7% in the previous month).

The increase on monthly basis of NIC was mainly due to the prices of Tobaco (+2.5%), of Regulated energy products (+0.8%), of Non-regulated energy products (+0.7%), of Non-durable goods (+0.4%) and of Services related to housing (+0,3%); whose growth was offset by the decrease of prices of Services related to transport and of Durable goods (-0.2% both).

In February 2025 the Italian harmonised index of consumer prices (HICP) increased by 0.1% on monthly basis and by 1.7% on annual basis (the same as in January), confirming the flash estimate.