FX.co ★ Italy’s HICP Holds Steady at -1.0% Month-on-Month in July

Italy’s Harmonised Index of Consumer Prices (HICP) recorded no change in July, remaining at -1.0% month-on-month, according to data updated on 12 August 2026. The latest reading matches the previous month’s performance, which was also -1.0% in July 2026 when compared with the preceding month.

On a month-over-month basis, this means consumer prices in Italy declined at the same pace as in the prior comparison period, indicating a continued downward pressure on prices rather than any further deterioration or improvement. The “actual” figure reflects the change in prices for July relative to the previous month, while the “previous” figure captures the change in the earlier month compared with its prior month, both standing at -1.0%.