Inflation in Italy

Italy Harmonized Inflation (eop) | Economic News & Forecasts

Italy - Harmonized Inflation (end of period)

Inflation comes in at highest level since 1986

Consumer prices increased 0.82% in May over the previous month, contrasting April's 0.09% fall. The higher print was largely due an acceleration of prices for non-regulated energy products as well as for recreation and culture.

Inflation came in at 6.8% in May, which was up from April’s 6.0%. May's figure marked the highest inflation rate since 1986. Annual average inflation rose to 4.0% in May (April: 3.6%). Finally, harmonized inflation rose to 7.3% in May, from April’s 6.3%.

Looking ahead to June, recent cuts to fuel excise tax, as well as electricity and gas tariffs will reduce upward pressure on inflation. That said, elevated prices for crude oil and natural gas will likely keep inflation elevated.

FocusEconomics panelists see harmonized inflation averaging 6.3% in 2022, which is down 0.1 percentage points from the previous month’s estimate, and 2.3% in 2023.

Italy - Harmonized Inflation (eop) Data

2015   2016   2017   2018   2019  
Inflation Rate (HICP, annual variation in %, eop)0.1  0.6  1.0  1.2  0.4  

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Italy Harmonized Inflation (eop) Chart


Italy Inflation
Note: Annual variation of consumer price index (CPI) in %.
Source: National Statistical Institute (ISTAT) and FocusEconomics calculations.

Italy Facts

Value Change Date
Bond Yield1.31-0.40 %Jan 01
Exchange Rate1.120.65 %Dec 31

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