Italy’s Harmonised Index of Consumer Prices (HICP) rose 0.1% month over month in August, according to data from the national statistics institute Istat. The increase reversed a revised 1% decline in July, described as the steepest monthly fall in recent records, and marked a technical rebound after a deflationary dip. The EU-harmonized measure covers goods and services purchased by households and uses Eurostat methodology for cross-country comparisons. August annual inflation is expected to remain subdued, reflecting broader disinflationary pressure across the euro area. The reading is unlikely by itself to alter the European Central Bank’s near-term policy stance, although officials and economists will monitor whether consumer-price growth becomes more sustained. Core inflation, which excludes energy and food, remains sticky, while services have been a key source of underlying pressure. For households, the increase suggests prices are stabilizing after July’s decline; for markets, the data may shape expectations for future ECB interest-rate decisions.