Consumer prices (provisional data) - February 2025

According to preliminary estimates, in February 2025 the Italian consumer price index for the whole nation (NIC) was +0.2% compared with the previous month and +1.7% on annual basis (from +1.5% in January 2025).

The increase of the growth on annual basis of All-item index was mainly due to the prices of Regulated energy products (from +27.5% to +31.5%), of Non-regulated energy products (from -3.0% to -1.9%), of Unprocessed food (from +2.2% to +2.9%) and of Processed food including alcohol (from +1.7% to +2.2%). On the contrary, the prices of Services related to transport (from +2.5% to +1.9%), of Services related to recreation, including repair and personal care (from +3.3% to +3.0%) and of Services related to communication (from +1.1% to +0.5%) slowed down.

In February 2025, core inflation (excluding energy and unprocessed food) was stable at +1.8% and inflation excluding energy was +1.8% (the same as in the previous month).

As for Goods, the year on year growth rate was +1.2% (from +0.7% in January) and for Services the annual rate of change was +2.4% (down from +2.6%). As a consequence, the inflationary gap between Services and Goods decreased (from +1.9 percentage points in January to +1.2).

The prices of Grocery and unprocessed food increased by 0.2 on monthly basis and by 2.2% on annual basis (up from +1.7% in the previous month).

The increase on monthly basis of NIC was mainly due to the prices of Tobaco (+2.5%), of Regulated energy products (+0.9%), of Non-regulated energy products (+0.7%), of Non-durable goods (+0.4%) and Processed food including alcohol (+0.3%); whose growth was offset by the decrease of prices of Services related to transport (-0.2%).

In February 2025, according to preliminary estimates, the Italian harmonised index of consumer prices (HICP) increased by 0.1% on monthly basis and by 1.7% on annual basis (the same as in January).