Inflation is picking up again in Italy, reaching 2,7% year-on-year in April 2026, a sharp increase from the 1,7% recorded in March. Energy and fresh food are driving the new price surge, with increases directly impacting households' shopping baskets and daily consumption. This is according to the final data released by Istat in its April consumer price report. Specifically, the national consumer price index (NIC), excluding tobacco, increased by 1,1% for the entire nation, while the year-on-year growth rate stood at 2,7%, slightly lower than the preliminary estimate of 2,8%.
The most significant impact was on unregulated energy prices, which rose from -2% in March to +9,6% in April, along with regulated energy prices, which rose from -1,6% to +5,3%. Unprocessed food prices also accelerated, rising from +4,7% to +5,9%, confirming the tensions in the prices of fruit, vegetables, fresh fish, and other consumer products. According to Istat, however, some service components slowed. Specifically, recreational, cultural, and personal care services fell from +3% to +2,6%, while transportation services slowed from +2,2% to +0,6%. Core inflation, which excludes energy and unprocessed food, also showed signs of a slowdown, falling from +1,9% to +1,6%. The index excluding energy prices also declined, falling from +2,1% to +1,9%.
Price trends also show a reversal compared to previous months: goods prices accelerated from +0,8% to +3,1%, while services prices slowed from +2,8% to +2,4%. The gap between services and goods thus became negative by 0,7 percentage points, compared to +2 points in March. The so-called "shopping basket," which includes food and household and personal care products, also increased: the annual rate increased from +2,2% to +2,3%. Growth in frequently purchased products was even more pronounced, jumping from +3,1% to +4,2%. Among the spending categories that saw the most significant increases were housing, water, electricity, and gas, which rose from -1,6% to +5,1%, as well as transportation, which grew from +2,1% to +3,8%. In the energy sector, increases in heating diesel (+38,1%), automotive diesel (+27,8%) and natural gas on the free market, which returned to positive territory at +4,4%, stand out.
Istat emphasizes that inflation growth is "mainly driven by pressures on energy and unprocessed food prices," while "a partial dampening effect" stems from the dynamics of certain types of services. Finally, the European harmonized index (HICP) recorded 2,8% annual growth, while inflation forecast for 2026 stands at 2,3%.
