In January 2026, Italy’s national consumer price index (NIC), excluding tobacco, rose by 0.4% compared to December and by 1.0% year-on-year, slightly down from December’s +1.2%. This was revealed by Istat, which specifies how January inflation returned to a level just above that of October 2024 (+0.9%). Price increases were driven mostly by unprocessed (+2.5%) and processed (+2.2%) food, housing-related services (+4.4%), tobacco (+3.3%), and recreational, cultural, and personal care services (+3.0%). The yearly growth rate for "shopping basket" prices—which comprise food, housekeeping, and personal care products—was 2.1%. Core inflation, which excludes more volatile products like energy and fresh food, was steady at 1.8%.