Energy prices push up inflation to near-three-year high of 3.3% in August (3)

Rising energy prices due to the Iran war are continuing to push up Italian inflation, which was 3.3% in August, a near three-year high, Istat said Tuesday. According to preliminary estimates, in August 2026, the national consumer price index (NIC), excluding tobacco, will increase by +0.5% month-on-month and +3.3% year-on-year (from +2.9% the previous month). "In August 2026, inflation will rise to +3.3% (from +2.9% in July), supported by the trend in energy prices (from +11.6% to +17.0%), which are still affected by international tensions," explains the national statistics institute. The 'acquired' inflation for 2026 (i.e., the inflation that would occur in the year assuming that the index itself remains at the same level as the latest available monthly data for the remainder of the year)