Inflation Italy 2003
Average inflation: 2.7%
Current Inflation
Inflation is normal at 2.7%, around the ECB target.
Peak and Trough
The highest inflation was in January at 2.8%. The lowest inflation was in November at 2.5%.
- Highest month
- January: 2.8%
- Lowest month
- November: 2.5%
- Difference
- 0.3 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Alcoholic beverages, tobacco and narcotics with an average of 6.9%. The lowest price increase was in Communication with an average of -1.7%.
- Highest increase
- Alcoholic beverages, tobacco and narcotics: 6.9%
- Lowest increase
- Communication: -1.7%
Historical Context
Current inflation is around the 5-year average of 2.6%. This approaches the highest level since records began (2.8% in 2001).
- 5-year average
- 2.6%
- 10-year average
- 2.6%
- All-time high (2001)
- 2.8%
- All-time low (2002)
- 2.5%
Trend
Inflation has remained relatively stable. Compared to 2002, the difference is minimal (+0.2 percentage point).
- Change vs. previous year
- +0.2 percentage points
- Largest monthly swing
- June: +0.5 percentage points
ECB Target
Inflation is 0.7% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €102.70 next year at this inflation rate.
Multi-year trend
Monthly figures 2003
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2002 |
|---|---|---|
| January | 2.8% | +0.4 |
| February | 2.6% | +0.3 |
| March | 2.7% | +0.2 |
| April | 2.7% | +0.4 |
| May | 2.7% | +0.4 |
| June | 2.7% | +0.5 |
| July | 2.7% | +0.5 |
| August | 2.8% | +0.4 |
| September | 2.8% | +0.2 |
| October | 2.6% | -0.1 |
| November | 2.5% | -0.3 |
| December | 2.5% | -0.3 |
| Average | 2.7% |
Data source
Data from OECD. Last updated: 11/01/2026.