Consumer prices - February 2026

In February 2026 the Italian consumer price index for the whole nation (NIC) was +0.7% compared with the previous month and +1.5% on annual basis (up from +1.0%); the flash estimate was +1.6%.

The acceleration of inflation was mainly due to the dynamics of prices of Services related to the transport (from +0.7% to +2.9%), of Services related to recreation, including repair and personal care (from +3.0% to +4.9%) and of Unprocessed food (from +2.5% to +3.7 %). On the contrary, the prices of Processed food including alcohol (from +1.9% to +1.4%), of Regulated energy products (from -9.6% to -11.6%) and of Non-regulated energy products (from -5.8% to -6.2%) slowed down.

Core inflation (excluding energy and unprocessed food) was +2.4% (from +1.7%) and inflation excluding energy was +2.5% (from +1.9%).

As for Goods, the year on year growth rate was -0.1% (from -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 (+3.7 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 (+1.9%), of Unprocessed food (+1.2%). of Non-regulated energy products and Services related to housing (+0.4% both); on the contrary, prices of Regulated energy products (-1.5%) and of Processed food including alcohol (-0.5%) decreased.

In February 2026 the Italian harmonised index of consumer prices (HICP) recorded a month-on-month change of +0.5% and a year-on-year increase of +1.5% (from +1.0%); the flash estimate was +1.6%.