FX.co ★ Italian Inflation Cools Sharply in May as CPI Growth Slows to 0.4% MoM

Italy’s consumer price growth slowed markedly in May 2026, suggesting a further easing of inflationary pressures in the eurozone’s third-largest economy. According to the latest data updated on 29 May 2026, the Italian Consumer Price Index (CPI) rose 0.4% month-over-month, down from a 1.1% increase recorded in April 2026.

The comparison, based on month-over-month movements, shows that while prices continued to climb in May, the pace of increase has decelerated substantially versus the prior month. The April figure reflected the change from March to April, whereas the newly released May reading captures the change from April to May.

This slowdown may signal some relief for households and businesses facing elevated costs, and could influence expectations around monetary conditions and wage negotiations, as investors and policymakers assess whether inflation momentum in Italy is losing steam.