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554 ( ) was a DLIV common year starting on Thursday (link will display the full calendar) of the Julian calendar. The denomination 554 for this year has been used since the early medieval period, when the Anno Domini calendar era became the prevalent method in Europe for naming years.
August 13 – Byzantine Emperor Justinian I issues a pragmatic sanction reorganizing Italy and rewards the praetorian prefect Liberius for over 60 years of distinguished service, granting him extensive estates in Italy.  October – Battle of the Volturnus: In the spring Butilinus (Buccelin) has marched north; the Frankish army (infected by an epidemic of dysentery which kills their leader Leutharis (Lothair)) is reduced to about 30,000 men. The Byzantine army, with 18,000 men (including a contingent of Goths under Aligern), marches south to meet them at Casilinum (on the banks of the River Volturno). Byzantine eunuch general Narses sends a cavalry force under Chanaranges to destroy the supply wagons of the Franks. Outmanoeuvring Butilinus, he chooses a disposition similar to that at Taginae. After a frontal assault on the Byzantine centre, the Franks and the Alamanni are annihilated, thus effectively ending the Gothic War (535-554). Narses garrisons in Italy an army of 16,000 men. The recovery of the Italian Peninsula has cost the empire about 300,000 pounds of gold. 
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^ Jean Leclerq,
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Victor Cunrui Xiong (2009). . Rowman & Littlefield. pp. 643-. Historical Dictionary of Medieval China ISBN . 978-0-8108-6053-7
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; ; (2008). . ?. ?
Patrick Amory (October 16, 2003). . Cambridge University Press. pp. 159-. People and Identity in Ostrogothic Italy, 489-554 ISBN . 978-0-521-52635-7