🇮🇹Italy inflation rate
released 19 Aug 2026 · data through July 2026 · next release expected 31 Aug 2026
Italy joined the euro at its launch in 1999. Harmonised inflation (HICP) — the EU-harmonised measure that makes prices comparable across Europe — stands at 2.9% as of July 2026. That is 0.9 percentage points above the ECB's 2% target, and 0.1 points below the eurozone average of 3.0%.
The breakdown shows core (excluding energy and food) at 1.8%, energy at 11.7%, food at 1.4% and services at 2.5%. The strongest pressure is in energy (11.7%), while food is the softest (1.4%).
Month on month the headline eased from 3.0% to 2.9%, a step down from the month before.
Italy ranks number 16 of 30 European economies by annual inflation, from highest to lowest, between Slovenia and Norway.
Italy's harmonised inflation is 2.9% as of July 2026 — abovethe European Central Bank's 2% target by 0.9 percentage points.
Compare with the rest of Europe on the European inflation ranking →
Frequently asked questions
- What is Italy's current inflation rate?
- Italy's annual inflation rate, measured by the harmonised index of consumer prices (HICP), is 2.9% as of July 2026.
- Is Italy's inflation above or below the ECB's 2% target?
- At 2.9%, it is 0.9 percentage points above the European Central Bank's 2% target.
- How does Italy's inflation compare with the rest of Europe?
- Italy ranks number 16 of 30 European economies by inflation, 0.1 points below the eurozone average of 3.0%.
- Did Italy's inflation rise or fall last month?
- Month on month, the headline rate eased from 3.0% to 2.9% in July 2026.