Italy’s annual inflation rate rose to 3.3% in August 2026 from 2.9% in July, confirming the preliminary estimate and reaching its highest level since September 2023. Energy prices were the main source of upward pressure, with regulated energy inflation increasing to 18.6% from 14.8% and non-regulated energy inflation rising to 17.0% from 11.4% amid ongoing tensions in the Middle East. Inflation also accelerated for durable goods and unprocessed food. By contrast, price growth slowed for recreational, cultural and personal care services and for transport services. Core inflation, excluding energy and fresh food, eased to 1.5% from 1.6%. Consumer prices rose 0.5% month-on-month after a 0.3% increase in July, while HICP (harmonized consumer price index) inflation accelerated to 3.2% year-on-year from 2.9% and increased 0.1% monthly.