Italy’s annual inflation slows to 3% in June despite faster energy price growth

Italy's annual consumer inflation slowed to 3% in June from 3.2% in May as easing food and services prices offset stronger energy inflation, the country's statistical authority Istat said Thursday.

The national consumer price index, excluding tobacco, was unchanged from the previous month, confirming the preliminary estimate.

Istat said the annual slowdown was mainly driven by unprocessed food prices, whose annual increase eased to 4.4% from 5.5% in May.

Inflation in recreational, cultural and personal care services slowed to 2.7% from 3%, while transport-related services inflation eased to 1.1% from 1.7%.

The moderation was partly offset by faster energy price growth.

Prices for regulated energy products rose 9.2% from a year earlier, accelerating from 5.6%, while unregulated energy inflation increased to 13.3% from 12.5%.

Core inflation, which excludes energy and fresh food, edged down to 1.6% from 1.7%, while inflation excluding energy slowed to 1.9% from 2.1%.

Annual goods inflation eased to 3.3% from 3.4%, while services inflation declined to 2.6% from 2.8%.

Prices for food, household and personal care products rose 1.3% year on year, down from 1.9% in May, while inflation for frequently purchased goods slowed to 3.9% from 4.4%.

The EU-harmonized index of consumer prices was unchanged on a monthly basis and rose 3% annually, compared with 3.2% in May. The final annual reading was revised down from the preliminary estimate of 3.1%.

Istat said Italy's inflation carryover for 2026 stood at 2.6% for the headline index and 1.7% for the core measure.

In the second quarter, harmonized consumer prices increased 3.7% for households with lower spending levels, compared with 2.6% for households with higher expenditure.