Consumer prices - July 2026

According to preliminary estimates, in July 2026 the Italian consumer price index for the whole nation (NIC) was +0.2% compared with the previous month and +2.8% on annual basis (from +3.0%).

The slight slowdown in inflation reflects the price dynamics of Unprocessed food (from +4.4% to +3.8%), of Non-regulated energy products (from +13.3% to +10.6%) and of Servicesc miscellaneous (from +2.5% to +1.8%). By contrast, prices for Processed food including alcohol (from -0.2% to +0.2%), Regulated energy products (from +9.2% to +14.9%) and Services related to transport (from +1.1% to +1.6%) accelerated.

As for Goods, the year on year growth rate was +3.1% (down from +3.3%), and for Services the annual rate of change was +2.6% stable respect to the previous mounth.

The month-on-month increase in the overall index was mainly due to the prices of Regulated energy products (+6.6%), of Services related to transport (+1.4%), of Processed food including alcohol (+0.7%) and of Services related to recreation, including repair and personal care (+0.5%); on the othe hand, prices of Unprocessed food (-1.1%) and of Non-regulated energy products (-0.3%) increased.

In July 2026, according to preliminary estimates, the Italian harmonised index of consumer prices (HICP) recorded a month-on-month change of -1.0% (due to the summer sales not considered by NIC) and a year-on-year increase of +2.9% (from +3.0% in the previous month).