Italy’s annual inflation rate climbed to 4.2% in September 2026, up from 3.3% in August and in line with preliminary estimates. This was the highest rate since September 2023 and was driven primarily by surging energy costs. Inflation in regulated energy prices accelerated to 25.8% from 18.6%, while unregulated energy inflation rose to 22.5% from 17.0%, amid ongoing tensions in the Middle East.
Additional upward pressure came from faster price increases for unprocessed food (5.5% vs. 3.8%), recreational, cultural, and personal care services (2.9% vs. 2.6%), and transportation (1.6% vs. 0.8%). Core inflation, which excludes energy and fresh food, inched up to 1.6% in September from 1.5% in August.
On a monthly basis, consumer prices increased by 0.7%, following a 0.5% rise in the previous month. Meanwhile, harmonised HICP inflation also accelerated to 4.2% from 3.2% in August, again matching preliminary estimates, with prices rising 2.1% month-on-month.
