Italy: energy inflation rate by commodity 2024

The inflation rates of energy commodity prices in Italy began to increase significantly in 2021 and continued throughout 2022. Electricity has seen the steepest rise, with the inflation rate reaching 199 percent in October 2022. These increases in inflation were driven further by Russia's invasion of Ukraine, which has caused uncertainty over Europe's security of gas supply, as well as intense energy price volatility. However, since the beginning of 2023, energy commodity prices have shown a decrease in the country.

Harmonized index of consumer prices (HICP) energy inflation rate in Italy from January 2019 to May 2024, by commodity

Characteristic	Energy	Gas	Liquid fuels	Electricity
May '24	-11.7%	-21.9%	4.4%	-29.2%
Apr '24	-12.2%	-20%	1.8%	-29.2%
Mar '24	-10.9%	-9.1%	-1.3%	-30.6%
Feb '24	-17.4%	-18.1%	-2.4%	-41.2%
Jan '24	-20.7%	-25.7%	-4.9%	-43.2%
Dec '23	-25%	-36.4%	-6.2%	-49.9%
Nov '23	-24.6%	-36%	-10.2%	-50.6%
Oct '23	-19.9%	-32.6%	-7%	-47.5%
Sep '23	1.6%	-12.2%	-8.7%	-15.2%
Aug '23	-0.2%	-12.1%	-11.6%	-14.8%
Jul '23	0.6%	4.2%	-22.1%	-3.5%
Jun '23	2%	5.8%	-21.6%	1.4%
May '23	11.5%	18.3%	-16.5%	13.5%
Apr '23	16.4%	18.1%	-11.2%	20.1%
Mar '23	10.7%	3.6%	-2.7%	28.1%
Feb '23	28.2%	22.1%	13.2%	58.2%
Jan '23	42.8%	47.1%	18.6%	88.9%
Dec'22	65.1%	94%	24.1%	165.4%
Nov'22	68.1%	96.5%	32%	174.8%
Oct'22	71.7%	90.7%	36.4%	199%
Sep'22	45%	60.3%	43.7%	103.4%
Aug '22	45.4%	59.1%	43.6%	102.9%
Jul '22	43.4%	40.7%	52.6%	85.3%
Jun '22	49.1%	63.2%	53%	81.3%
May '22	42.9%	62.3%	47.3%	73.4%
Apr '22	40%	58.1%	45.7%	68.6%
Mar '22	51.5%	68.5%	37.2%	82.3%
Feb '22	46.5%	64.4%	24.6%	81.9%
Jan '22	39.1%	59%	21%	62%
Dec '21	29.6%	38.1%	21.3%	35%
Nov '21	31.2%	37.9%	26.8%	33.2%
Oct '21	25.3%	38.8%	22.3%	17.9%
Sep '21	20.5%	34.2%	15.2%	15.5%
Aug '21	20%	34%	13.5%	15.7%
Jul '21	18.9%	34%	13.7%	13.5%
Jun '21	14.4%	12.1%	14.2%	16.8%
May '21	14.1%	11.9%	16.4%	16.8%
Apr '21	9.8%	11.8%	10.3%	12.5%
Mar '21	0.3%	-4.3%	1.6%	1.5%
Feb '21	-3.2%	-4.4%	-6.9%	0.6%
Jan '21	-5.1%	-4.3%	-10.9%	0.4%
Dec '20	-8%	-8%	-12.4%	-3.5%
Nov '20	-8.8%	-7.9%	-14.7%	-3.5%
Oct '20	-8.9%	-8.3%	-14.3%	-3.5%
Sep '20	-10.1%	-13.2%	-12.8%	-7.9%
Aug '20	-10.3%	-13.3%	-12%	-8.3%
Jul '20	-10.6%	-13.2%	-12.1%	-8.8%
Jun '20	-12.5%	-13.5%	-14.5%	-9.8%
May '20	-13.1%	-13.5%	-18.5%	-9.9%
Apr '20	-9.9%	-13.5%	-13.9%	-8.2%
Mar '20	-5.7%	-10.5%	-6.5%	-4%
Feb '20	-3.4%	-10.5%	-0.1%	-3.8%
Jan '20	-2.1%	-10.6%	3.8%	-3.4%
Dec '19	-2.2%	-9.5%	1.4%	0.4%
Nov '19	-4.7%	-9.6%	-2.4%	0.2%
Oct '19	-4.8%	-9.6%	-2.4%	-0.1%
Sep '19	-2.9%	-7.7%	-1.8%	4.5%
Aug '19	-2%	-7.4%	-0.8%	4.9%
Jul '19	-1.9%	-7.5%	-0.9%	4.2%
Jun '19	2.6%	5%	-0.8%	8.6%
May '19	4.5%	5.2%	3.3%	8.6%
Apr '19	5%	5%	4.7%	9.1%
Mar '19	5.6%	9.4%	5.2%	6.5%
Feb '19	4.2%	9.5%	3.6%	6.6%
Jan '19	3.8%	9.5%	1.3%	7%

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Release date

June 2024

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Region

Italy

Survey time period

January 2019 to May 2024

Supplementary notes

According to the source, the Harmonized Indices of Consumer Prices (HICP) measure changes in the prices of consumer goods and services over time. These indices provide comparable measures of inflation.

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