Italy’s annual inflation rate climbed to 3.3% in August 2026, up from 2.9% in July, confirming the preliminary estimate and reaching its highest level since September 2023. The strongest upward pressure came from energy prices: inflation for regulated energy rose to 18.6% from 14.8%, while non-regulated energy inflation increased to 17.0% from 11.4%, as ongoing tensions in the Middle East continued to fuel inflationary dynamics. Inflation for durable goods also picked up, accelerating to 1.3% from 0.7%, and unprocessed food inflation edged up to 3.8% from 3.6%.
By contrast, price pressures eased in several service categories. Inflation slowed for recreational, cultural and personal care services, falling to 2.6% from 3.0%, and for transport services, which declined to 0.8% from 1.6%. Core inflation, which excludes energy and fresh food, inched down to 1.5% from 1.6%.
On a monthly basis, the consumer price index (CPI) increased by 0.5% in August, following a 0.3% rise in July. The harmonised index of consumer prices (HICP) also accelerated, reaching 3.2% year-on-year in August, up from 2.9% in July and in line with the preliminary estimate, while posting a 0.1% increase month-on-month.
