Consumer prices (provisional data) - December 2025

According to preliminary estimates, in December 2025 the Italian consumer price index for the whole nation (NIC) was +0.2% on monthly basis and +1.2% on annual basis (from +1.1% in November 2025).

In 2025, the average annual rate of change of consumer prices, measured by NIC, was +1.5% (+1.0% in 2024); core inflation, excluding energy and unprocessed food, was +1.9% (from +2.0% in 2024) and inflation excluding energy was +2.0% (+2.1% in 2024).

The increase of the growth on annual basis of All-item index was mainly due to the prices of Regulated energy products (from -3.2%% to -5.3%) and of Services related to recreation, including repair and personal care (from +3.0% to +2.7%); on the contrary, the prices of Services related to transport (from +0.9% to +2.6%) of Unprocessed food (from +1.1% to +2.3%), of Processed food including alcohol (from +2.1% to +2.6%) have increased.

In December 2025, core inflation (excluding energy and unprocessed food) was +1.8% (from +1.7% in the previous month) and inflation excluding energy was +1.9% (from +2.0% in November).

The prices of Grocery and unprocessed food decreased by 0.3 on monthly basis and increased by 2.2% on annual basis (up from +1.5% in the previous month).

The increase on monthly basis of All items index was expecially due to the prices of Services related to transport (+3.1% ) and of Unprocessed foods (+0.4%), only partially offset by the decrease of those of Regulated energy products (-0.6%) and of Services related to recreation, including repair and personal care (-0.4%).

In December 2025, according to preliminary estimates, the Italian harmonised index of consumer prices (HICP) increased by 0.2% compared with the previous month and by 1.2% on annual basis (from +1.1% in November). In 2025 the average annual rate of change of HICP was +1.7% (was +1.1% in 2024).