Italy’s inflation excluding tobacco eased slightly in June 2026, with the year-over-year rate ticking down to 2.9%, from 3.0% recorded in May 2026. The latest figures, updated on 16 July 2026, indicate a modest cooling in underlying price pressures in the Italian economy.
Measured on a year-over-year basis, the June reading compares the change in prices (excluding tobacco) to the same month a year earlier, while May’s figure reflected the change versus May of the previous year. The marginal decline suggests that, while core inflation remains elevated, it may be gradually losing momentum as price growth steadies across key categories.
Market participants and policymakers will be watching upcoming releases closely to assess whether this slight slowdown in core inflation develops into a more sustained disinflation trend or stabilizes near current levels in the coming months.
