FX.co ★ Italy’s HICP Inflation Eases Slightly to 2.9% in July 2026

Italy’s Harmonised Index of Consumer Prices (HICP) inflation rate edged down to 2.9% year-on-year in July 2026, from 3.0% in June 2026, according to data updated on 31 July 2026. The July reading reflects a marginal cooling in price pressures compared to the previous month.

Both the current and previous figures are measured on a year-over-year basis, comparing each month’s prices to the same month a year earlier. The slight decline suggests that, while inflation remains present, the pace of consumer price increases in Italy is gradually moderating as the summer progresses.