Consumer prices - June 2025

Final data

In June 2025 the rate of change of the Italian consumer price index for the whole nation (NIC) was +0.2% on monthly basis and +1.7% on annual basis (from +1.6% in May), confirming the flash estimate.

The increase of the growth on annual basis of All-item index was mainly due to the prices of Unprocessed food (from +3.5% to +4.2%), of Services related to transport (from +2.6% to +2.9%) and of Durable goods (from -1.1% to -0.8%). Quite the opposite, the growth on annual basis of the prices of Regulated energy products (from +29.3% to +22.6%) slowed down.

In June 2025, core inflation (excluding energy and unprocessed food) was +2.0% (up from +1.9% in May) and inflation excluding energy was +2.1% (as same as in the previous month).

As for Goods, the year on year growth rate was +0.9% (from +0.8% in May) and for Services the annual rate of change was +2.7% (from +2.6%). As a consequence, the inflationary gap between Services and Goods was +1.8 percentage points (as same as in the previous month).

The prices of Grocery and unprocessed food was null on monthly basis and increased by 2.8% on annual basis (up from +2.7% in the previous month).

The increase on monthly basis was mainly due to the prices of Services related to transport (+1.1%), of Services related to recreation, including repair and personal care (+0.9%), of Processed food including alcohol and of Services related to housing (+0.3% both). The prices of Regulated energy products (-3.0%), of Non-regulated energy products (-0.7%) and of Unprocessed food (-0.4%) decreased.

In June 2025 the Italian harmonised index of consumer prices (HICP) increased by 0.2% on monthly basis and by 1.8% on annual basis (from +1.7% in May); the flash estimate was +1.7%.

In the second quarter of 2025, inflation measured by HICP had a wider impact on the sub-population with the lowest level of equivalent expenditure (+2.0%) than on households with highest amount (+1.8%).