Italian inflation jumps to 3.2% year‑on‑year in May 2026

In May 2026 Italy’s national consumer‑price index (NIC) rose 0.4 percent month‑on‑month and 3.2 percent year‑on‑year, up from 2.7 percent in April. The Istat report attributes the acceleration mainly to higher prices for non‑regulated energy (annual rise from 9.6 % to 12.5 %), regulated energy (from 5.3 % to 5.6 %), transport services (from 0.6 % to 1.7 %) and recreation, cultural and personal‑care services (from 2.6 % to 3.0 %).

Core inflation – the index stripped of volatile energy and fresh‑food prices – edged higher to 1.7 percent year‑on‑year, while core without energy rose to 2.1 percent. The harmonised CPI (HICP) increased 0.3 percent month‑on‑month and 3.2 percent year‑on‑year. Food price growth slowed, with the basket index falling to 1.9 percent year‑on‑year. Regional differences were noted, with the strongest upticks in Reggio Calabria (+4.4 %), Verona (+3.7 %) and Venice, while Aosta recorded the lowest rise at 2.3 percent.