Italy Flash Inflation Jumps to 5.4% in October, Well Above Forecasts, as Regulated Energy Prices Surge 59.5% and Harmonised Rate Hits 5.6%
Italy's national statistics agency Istat reported preliminary figures on October 30 showing that the Italian consumer price index for the whole nation (NIC) rose 0.9% from September and 5.4% from a year earlier in October 2026. The annual rate accelerated from 4.2% in September, came in well above the 4.5% median forecast, and returned to its highest level since August 2023.
Energy drove the jump. Regulated energy prices surged 18.8% on the month, lifting their annual rate to 59.5% from 25.8% in September, while non-regulated energy prices rose 4.9% on the month and 29.4% on the year, up from 22.5%.
Food and services also accelerated. Unprocessed food prices climbed 1.8% on the month, with the annual rate rising to 7.5% from 5.5%, and processed food prices returned to positive annual growth. Services inflation picked up to 2.9% from 2.6%, with transport-related services up 3.1% on the year.
Goods prices rose 7.5% from a year earlier, up sharply from 5.4% in September, while core inflation, which excludes energy and fresh food, rose to 2.0% from 1.6%.
The harmonised index of consumer prices (HICP) rose 1.2% on the month and 5.6% on the year, up from 4.2% in September.
The figures are preliminary and subject to revision. Italy's jump contrasted with mixed readings elsewhere in the euro area on the same day: France's flash inflation rose to 3.4%, Spain's held at 4.9%, and preliminary rates in Germany's major states generally eased.
Source: GSM · USA (original Chinese edition)
Photo: 图：Rome 的 Campo de' Fiori 露天市集（资料图）。Daderot 摄，CC0，经 Wikimedia Commons。 / The Campo de' Fiori open-air market in Rome (file photo). Photo by Daderot, CC0, via Wikimedia Commons.
