What is Italy's current inflation rate?

Italy's annual inflation rate, measured by the harmonised index of consumer prices (HICP), is 4.1% as of September 2026 This is a flash estimate and may be revised at the final release..

Is Italy's inflation above or below the ECB's 2% target?

At 4.1%, it is 2.1 percentage points above the European Central Bank's 2% target.

How does Italy's inflation compare with the rest of Europe?

Italy ranks number 11 of 30 European economies by inflation, 0.3 points above the eurozone average of 3.8%.

Did Italy's inflation rise or fall last month?

Month on month, the headline rate rose from 3.2% to 4.1% in September 2026.

🇮🇹Italy inflation rate

released 2 Oct 2026 · data through September 2026 · flash estimate · next release expected 17 Oct 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 4.1% as of September 2026. That is 2.1 percentage points above the ECB's 2% target, and 0.3 points above the eurozone average of 3.8%.

The breakdown shows core (excluding energy and food) at 1.8%, energy at 22.3%, food at 2.0% and services at 2.5%. The strongest pressure is in energy (22.3%), while core (excluding energy and food) is the softest (1.8%).

Month on month the headline rose from 3.2% to 4.1%, extending the climb.

Italy ranks number 11 of 30 European economies by annual inflation, from highest to lowest, between Croatia and Ireland.

Harmonised inflation (HICP) · annual rate

4.1%

vs 2% target

+2.1 pp

Harmonised inflation (HICP) is 4.1% as of September 2026 — that is 2.1 percentage points above the ECB's 2% target.

core (excluding energy and food)

1.8%

▲ 0.1 pp vs prev

energy

22.3%

▲ 5.2 pp vs prev

food

2.0%

▲ 0.7 pp vs prev

services

2.5%

▲ 0.3 pp vs prev

Italy — annual HICP inflation rate, last 10 years

Source: Eurostat (HICP) · data through September 2026 · modifications: none

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 4.1% as of September 2026 This is a flash estimate and may be revised at the final release..
Is Italy's inflation above or below the ECB's 2% target?: At 4.1%, it is 2.1 percentage points above the European Central Bank's 2% target.
How does Italy's inflation compare with the rest of Europe?: Italy ranks number 11 of 30 European economies by inflation, 0.3 points above the eurozone average of 3.8%.
Did Italy's inflation rise or fall last month?: Month on month, the headline rate rose from 3.2% to 4.1% in September 2026.

🇮🇹Italy inflation rate

Frequently asked questions

Italy — more indicators