FX.co ★ Italy Inflation Rate Accelerates to 1.6%

Italy’s annual inflation rate rose to 1.6% in February 2026 from 1.0% in January, according to preliminary estimates, marking the highest level since late September. The acceleration was largely driven by higher prices for recreational, cultural, and personal care services, transport-related services (+3.0%), and unprocessed food (+3.6%), while processed food posted a more moderate increase (+1.7%).

In contrast, energy prices continued to fall, with regulated tariffs down 11.3% and unregulated energy prices down 6.2%, helping to dampen overall inflation. Goods prices edged slightly lower (-0.2%), whereas services prices increased by 3.6%.

On a monthly basis, consumer prices climbed 0.8%, the strongest gain since October 2022. This was mainly supported by higher prices for tobacco (+3.3%), recreational and personal care services (+2.1%), transport services (+2.0%), and unprocessed food (+1.1%).

Core inflation, which excludes energy and fresh food, picked up to 2.4%, while inflation excluding only energy rose to 2.5%. The Harmonised Index of Consumer Prices (HICP) increased by 1.6% year-on-year and 0.6% month-on-month.