Ferragosto- the August holiday. The Italians close their businesses and swarm to the beaches, so much of Parma will be closed and the beach/resort places like Cinque Terre will be overrun with tourists.
Personally, one of my favorite places in Italy is Staglieno Cemetery in Genoa, it will be nice in August; the gallerie (covered galleries filled with stunning sculptures) will be shady and cool, and the hillside mausoleums will also be shady. I've spent many days wandering around there, and I still haven't nearly seen all of it.
http://stonecarver.com/Staglieno.html