FX.co ★ Italy’s HICP Inflation Accelerates to 3.3% in May, Up from 2.8%

Italy’s Harmonised Index of Consumer Prices (HICP) inflation rate picked up in May 2026, rising to 3.3% year-over-year, according to data updated on 29 May 2026. This marks an acceleration from April 2026, when the HICP stood at 2.8% compared with the same month a year earlier.

The figures show that price pressures strengthened in May on an annual basis, as the current reading measures the change in prices compared with May of the previous year, while the April figure reflected a year-over-year comparison for that month. The move from 2.8% to 3.3% suggests that inflation momentum in Italy, as captured by the harmonised index used across the euro area, has increased at the start of the summer period.