Italy’s annual inflation rate stood at 2.9% in July 2026, revised up from a preliminary 2.8% but slightly below June’s 3.0%. This was the second consecutive slowdown since inflation reached a more than two-year high of 3.2% in May, as the temporary resumption of energy exports from the Middle East helped to ease price pressures.
Inflation for non-regulated energy, which is more sensitive to global market movements, decelerated to 11.4% from 13.3% in June. Price growth also slowed for unprocessed food (3.6% vs 4.4%) and miscellaneous services (1.8% vs 2.5%).
In contrast, inflation accelerated for regulated energy (14.8% vs 9.2%), transport-related services (1.6% vs 1.1%), and recreational, cultural, and personal care services (3.0% vs 2.7%).
On a monthly basis, consumer prices rose 0.3% after being unchanged in June. Core inflation, which excludes energy, edged down to 1.8% from 1.9%.
