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The National Institute of Statistics (ISTAT) has reported Italy’s annual inflation rate at 2.9 percent for July 2026. The figure was revised up from an initial preliminary estimate of 2.8 percent but represented a moderation from the 3.0 percent posted in June. This marks the second month of easing after the rate had climbed to a more than two-year high of 3.2 percent in May, the statistics office indicated.
According to ISTAT, the temporary resumption of energy exports from the Middle East contributed to easing price pressures in the period. Non-regulated energy inflation slowed to 11.4 percent from 13.3 percent in June while growth in unprocessed food products eased to 3.6 percent from 4.4 percent. Miscellaneous services also saw slower inflation at 1.8 percent compared with 2.5 percent previously even as regulated energy prices accelerated to 14.8 percent.
The institute’s data further showed consumer prices rising 0.3 percent on the month in July after remaining flat in June. Core inflation, which excludes energy, declined to 1.8 percent from 1.9 percent in the prior month. ISTAT noted pickups in inflation for transport-related services to 1.6 percent and for recreational, cultural and personal care services to 3.0 percent from 2.7 percent.
Figures from ISTAT placed the harmonised index of consumer prices, which allows for cross-country comparison, at an annual rate of 2.9 percent in July. This confirmed the preliminary estimate and reflected a 1.0 percent monthly drop influenced by summer sales not captured in the national index. The HICP had stood at 3.0 percent in June, the agency reported.
ISTAT’s assessment based on the July figures lifts the projected inflation path for the whole of 2026 to 2.7 percent. The statistics office has compiled Italian price data for decades, recording an average annual inflation rate of 5.42 percent since 1958. Prices for the ‘shopping basket’ of goods slowed to an annual rate of 1.0 percent in the month, according to the institute.
