The annual inflation rate in Italy fell further to 5.9% in July 2023, slightly below the initial reading of 6% and following 6.4% in the previous month, final estimates showed. The decline was largely attributed to a slowdown in cost of services related to transportation (2.4% vs 4.7%) non-regulated energy (7% vs 8.4% in June), and processed food (10.5% vs 11.5%). Prices also rose at a softer pace for other goods (4.5% vs 4.8%). Meanwhile, further drop was recorded in regulated energy (-30.2% vs -29%). On the other hand, inflation picked up for unprocessed food (10.4% vs 9.4%) and services related to housing (3.6% vs 3.5%). The core rate eased to 5.2% from 5.6% in June. Monthly, consumer prices showed no movements. source: National Institute of Statistics (ISTAT)

Inflation Rate in Italy averaged 5.82 percent from 1962 until 2023, reaching an all time high of 25.64 percent in November of 1974 and a record low of -0.60 percent in January of 2015. This page provides the latest reported value for - Italy Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Italy Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

Inflation Rate in Italy is expected to be 4.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Italy Inflation Rate is projected to trend around 2.10 percent in 2024 and 2.30 percent in 2025, according to our econometric models.

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Italy Inflation Rate



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-07-31 09:00 AM Inflation Rate YoY Prel Jul 6% 6.4% 6.1% 6.2%
2023-08-10 08:00 AM Inflation Rate YoY Final Jul 5.9% 6.4% 6% 6.0%
2023-08-31 09:00 AM Inflation Rate YoY Prel Aug 5.9% 5.3% 5.6%


Related Last Previous Unit Reference
Inflation Rate 5.93 6.40 percent Jul 2023
Inflation Rate MoM 0.00 0.00 percent Jul 2023
Consumer Price Index CPI 119.70 119.70 points Jul 2023
Harmonised Consumer Prices 119.90 121.80 points Jul 2023
Core Inflation Rate 5.18 5.58 percent Jul 2023
Core Consumer Prices 113.80 113.50 points Jul 2023
GDP Deflator 113.85 111.99 points Mar 2023
Producer Prices 136.80 137.20 points Jun 2023
Producer Prices Change -5.50 -4.30 percent Jun 2023
Export Prices 152.60 154.60 points Jun 2023
Import Prices 152.20 151.20 points Jun 2023
Food Inflation 10.90 11.00 percent Jul 2023
Services Inflation 4.10 4.50 percent Jul 2023
Energy Inflation 7.00 2.10 percent Jul 2023
CPI Transportation 123.10 122.50 points Jul 2023
CPI Housing Utilities 145.60 147.60 points Jul 2023

Italy Inflation Rate
In Italy, the most important categories in the Consumer Price Index are: food and non-alcoholic beverages (18 percent of total weight); transport (14 percent); and housing, water, electricity and other fuels (11 percent). The index also includes: miscellaneous goods and services (9 percent); restaurants and hotels (9 percent); health (9 percent); furnishings, household equipment and maintenance (8 percent); recreation and culture (7 percent); and clothing and footwear (6 percent). Alcoholic beverages and tobacco, communication, and education contribute to the remaining 7 percent of total weight.
Actual Previous Highest Lowest Dates Unit Frequency
5.93 6.40 25.64 -0.60 1962 - 2023 percent Monthly

News Stream
Italy Inflation Slows More Than Initially Expected
The annual inflation rate in Italy fell further to 5.9% in July 2023, slightly below the initial reading of 6% and following 6.4% in the previous month, final estimates showed. The decline was largely attributed to a slowdown in cost of services related to transportation (2.4% vs 4.7%) non-regulated energy (7% vs 8.4% in June), and processed food (10.5% vs 11.5%). Prices also rose at a softer pace for other goods (4.5% vs 4.8%). Meanwhile, further drop was recorded in regulated energy (-30.2% vs -29%). On the other hand, inflation picked up for unprocessed food (10.4% vs 9.4%) and services related to housing (3.6% vs 3.5%). The core rate eased to 5.2% from 5.6% in June. Monthly, consumer prices showed no movements.
2023-08-10
Italy Inflation Eases Slightly Below Expectations in July
The annual inflation rate in Italy fell further to 6% in July 2023, slightly below the market expectations of 6.1% and following 6.4% in the previous month, preliminary estimates showed. The decline was largely attributed to a slowdown in cost of services related to transportation (2.4% vs 4.7%) and non-regulated energy (7% vs 8.4% in June). Prices also rose at a softer pace for processed food (10.9% vs 11.5%). On the other hand, they continued to increase for unprocessed food (10.4% vs 9.4%). Meanwhile, the core rate dropped to 5.2% from 5.6% in July. Monthly, the CPI edged up by 0.1% after remaining unchanged in June.
2023-07-31
Italy Inflation Confirmed at 6.4%
The annual inflation rate in Italy fell to a 14-month low of 6.4% in June of 2023, in line with initial estimates and following 7.6% in the previous month, final reading showed. The decline was largely attributed to base year effects as energy costs have retreated from June-2022 peaks caused by the Russian invasion of Ukraine. The CPI slowed significantly for non-regulated energy (8.4% vs 20.3% in May), processed food (11.5% vs 13.2%), and services related to transportation (4.7% vs 5.6%). On the other hand, consumer prices continued to increase for unprocessed food (9.4% vs 8.8%). Meanwhile, the core rate dropped to 5.6% from 6% in May and the record-high of 6.3% in February. The CPI was stagnant on a monthly basis, after 0.3% rise in May.
2023-07-17