Overview
- Preliminary Istat data show consumer prices rose 0.2% on the month and 1.2% on the year in December, returning to October’s pace.
- Average inflation for 2025 came in at 1.5%, up from 1.0% in 2024, with regulated energy and unprocessed food driving the yearly pickup.
- Core measures stayed close to 2%, at about 1.9% excluding energy and fresh food and 2.0% excluding only energy.
- December’s uptick reflected higher prices for transport services and unprocessed food, partly offset by declines in regulated energy and softer recreational services.
- Eurostat’s flash estimate puts euro-area inflation at 2.0% in December, and an HICP overhaul introducing ECOICOP v2 with 2025 as the base year begins on 4 February.