---
source: National Institute of Statistics (ISTAT)
url: https://www.istat.it/comunicato-stampa/prezzi-al-consumo-febbraio-2026-2/
document_type: html
date_retrieved: 2026-03-17
period: February 2026
parent_publication: Consumer Prices Press Release
indicators_covered: [Harmonised Inflation Rate MoM, NIC Index, IPCA, FOI Index]
---

# Consumer Prices – February 2026

## Final Data

In February 2026, the national consumer price index for the entire population (NIC), excluding tobacco, recorded a **month-on-month variation of +0.7%** and a **year-on-year variation of +1.5%** (compared to +1.0% in January); the preliminary estimate was +1.6%.

### Monthly Change by Category

The acceleration of inflation is mainly due to the year-on-year dynamics of prices for:

- **Transport-related services** (from +0.7% to +2.9%)
- **Recreational, cultural and personal care services** (from +3.0% to +4.9%)
- **Unprocessed food** (from +2.5% to +3.7%)

There is a slowdown in processed food prices (from +1.9% to +1.4%), while the decline in energy prices broadens:

- **Regulated energetics** (from -9.6% to -11.6%)
- **Non-regulated energetics** (from -5.9% to -6.2%)

### Core Inflation Indicators

In February, **core inflation** (excluding energy and fresh food) shows an uptick, rising from +1.7% to **+2.4%**. 

Inflation excluding energy goods also increases from +1.9% to **+2.5%**.

### Goods vs. Services Split

In February 2026, prices for goods show a slight annual decline (**-0.2%**, same as January), while prices for services increase their growth rate (from +2.5% to **+3.6%**). The differential between the services and goods sectors widens from +2.7 percentage points to **+3.8 p.p.**

Prices for food products and those for household and personal care products show a slight acceleration (from +1.9% to +2.0%), while those for high-frequency purchase products remain stable at +1.9%.

### Monthly Composition Changes

The month-on-month variation of the general index is mainly affected by:

- **Tobacco prices** (+3.3%)
- **Recreational, cultural and personal care services** (+2.1%)
- **Transport-related services** (+1.9%)
- **Unprocessed food** (+1.2%)
- **Non-regulated energetics and housing-related services** (+0.4% each)

These increases were only partially offset by:

- **Regulated energy prices** (-1.5%)
- **Processed food prices** (-0.5%)

### 2026 Momentum

The acquired inflation for 2026 stands at **+1.1%** for both the general index and the core component.

## Harmonised Consumer Price Index (IPCA)

The **Harmonised Index of Consumer Prices (IPCA)** records a **month-on-month variation of +0.5%** and a **year-on-year variation of +1.5%** (compared to +1.0% in the previous month); the preliminary estimate was +1.6%.

## Workers and Employees Index (FOI)

The national consumer price index for **workers and employees families (FOI)**, excluding tobacco, records a **month-on-month variation of +0.5%** and a **year-on-year variation of +1.1%**.

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## Commentary

In February 2026, inflation recorded a marked acceleration (**+1.5%**, up from **+1.0%** in January). This acceleration is mainly driven by the evolution of:

- **Recreational, cultural and personal care services** (+4.9%)
- **Transport-related services** (+2.9%)
- **Unprocessed food** (+3.7%)

The only significant containment effect comes from the broadening decline in energy prices (**-6.6%**). The year-on-year growth of shopping basket prices stands at **+2.0%** (up from +1.9%), while core inflation rises to **+2.4%** (up from +1.7%).

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## Key Data Summary

| Indicator | February 2026 | January 2026 | Change |
|-----------|--------------|-------------|---------|
| **NIC (General Index) - MoM** | +0.7% | — | — |
| **NIC (General Index) - YoY** | +1.5% | +1.0% | +0.5 pp |
| **IPCA - MoM** | +0.5% | — | — |
| **IPCA - YoY** | +1.5% | +1.0% | +0.5 pp |
| **FOI - MoM** | +0.5% | — | — |
| **FOI - YoY** | +1.1% | — | — |
| **Core Inflation (ex-energy, fresh food)** | +2.4% | +1.7% | +0.7 pp |
| **Core Inflation (ex-energy)** | +2.5% | +1.9% | +0.6 pp |
| **Services YoY Growth** | +3.6% | +2.5% | +1.1 pp |
| **Goods YoY Change** | -0.2% | -0.2% | 0 pp |
| **2026 Acquired Inflation** | +1.1% | — | — |