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Italy Inflation Rebounds to 2.7% in April on Energy and Fresh Food Gains

Cooling core prices point to softer underlying pressure.

Overview

  • Istat, which published the final April figures Friday, said the national consumer price index rose 1.1% month over month and 2.7% year over year, a touch below the 2.8% flash estimate.
  • The rise was driven mainly by energy swinging from a 2.1% annual drop to a 9.2% rise and by faster increases in unprocessed food prices.
  • Core inflation, which excludes energy and fresh food, eased to 1.6% year over year, signaling that broader price pressures slowed.
  • The EU‑harmonized index (IPCA), which adjusts for the timing of seasonal sales, increased 1.6% on the month and 2.8% on the year.
  • Goods prices accelerated to 3.1% as services slowed to 2.4%, and frequently bought items rose 4.2%, putting more strain on day‑to‑day household budgets.
  • Carryover inflation for 2026 stands at 2.3% for the headline index and 1.3% for the core measure, while the worker‑household index (FOI) rose 1.0% on the month and 2.6% on the year.