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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
ItalyItaly CPI YoY climbed to 3.2% in May 2026
FMPMonthlyReleased May 2026
Italy CPI YoY climbed to 3.2% in May 2026, up 0.5% from April's 2.7% reading. The reading matched expectations. The print is running well above the 12-month average of 2.0%.
Latest Release
3.2
Actual
3.2
Consensus
2.7
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| EUR/USD | ▲ Direct | +0.40 | FOREX | Bullish EUR | → View |
| DAX | ▲ Direct | +0.40 | INDEX | Bullish EU | → View |
| EUR/GBP | ▲ Direct | +0.35 | FOREX | Bullish EUR | → View |
| EUR/JPY | ▲ Direct | +0.35 | FOREX | Bullish EUR | → View |
| XAU/USD | ▼ Inverse | −0.30 | COMMODITIES | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
CPI YoY (Italy) was reported at 3.2% in May 2026. This matched the market consensus of 3.2% exactly. The reading rose from the previous value of 2.7%. Trailing 12-month context per ETL data through May 2026.
WHY IT MATTERS
The indicator has been trending upward over the last three releases.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with EUR/USD (Bullish EUR). A secondary relationship exists with DAX, positively correlated (Bullish EU).
WHAT TO WATCH NEXT
The next release is scheduled for June 30, 2026. Same-country events in the next 14 days include Business Confidence (Jun 26) and Consumer Confidence (Jun 26).
Auto-generated from current model state · Refreshes on each release · Last update May 2026.
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CPI YoY - IT
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About CPI YoY — Italy
DEFINITION
Italy's CPI YoY for May rose to 3.200%, matching estimates and up from April's 2.700%, signaling accelerating inflation. The increase from April to May reflects a notable upward trend in consumer prices. Market focus remains on ECB policy adjustments amid persistent inflation pressures. Updated 5/29/26
WHY THIS INDICATOR MATTERS
Inflation prints feed directly into central-bank policy expectations and real-yield calculations, and are among the most rate-sensitive releases on the calendar. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (May 2026): actual 3.2 %, consensus 3.2 %. Prior reading (Apr 2026): 2.7 %. Before that (Apr 2026): 2.8 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection.