Consumer prices - February 2026

According to preliminary estimates, in February 2026 the Italian consumer price index for the whole nation (NIC) was +0.8% compared with the previous month and +1.6% on annual basis (up from +1.0% in the previous month).

The acceleration of inflation was mainly due to the dynamics of prices of Services related to the transport (from +0.7% to +3.0%), of Services related to recreation, including repair and personal care (from +3.0% to +4.9%) and of Unprocessed food (from +2.5% to +3.6%). On the contrary, the prices of Processed food including alcohol (from +1.9% to +1.7%), of Regulated energy products (from -9.6% to -11.3%) and of Non-regulated energy products (from -5.9% to -6.2%) slowed down.

As for Goods, the year on year growth rate was stable at -0.2% and for Services the annual rate of change was +3.6% (up from +2.5%). As a consequence, the inflationary gap between Services and Goods increases (+3.8 percentage points from +2.7 p.p. om the previous month).

The month-on-month increase in the overall index was mainly due to the prices of Tobacco (+3.3%), of Services related to recreation, including repair and personal care (+2.1%), of Services related to transport (+2.0%), of Unprocessed food (+1.1%) and of Non-regulated energy products (+0.4%); on the contrary, prices of Regulated energy products increased (-1.2%).

In February 2026, according to preliminary estimates, the Italian harmonised index of consumer prices (HICP) recorded a month-on-month change of +0.6% and a year-on-year increase of +1.6% (up from +1.0% in the previous month).