Acerbi, who was part of the 28-man squad announced by manager Luciano Spalletti for matches against Venezuela and Ecuador in the United States on Friday, will be replaced by AS Roma's Gianluca Mancini.
Italy play Venezuela on Thursday, followed by Ecuador on March 24.
The alleged incident occurred during Sunday's 1-1 draw between Serie A leaders Inter and seventh-placed Napoli, with defender Jesus later saying Acerbi apologised for the matter.
The FIGC said Acerbi, capped 34 times, explained his side of the story to Spalletti and his team mates in Rome on Monday morning.
"From the Nerazzurri defender's report, in waiting for what happened to be reconstructed in compliance with the autonomy of sporting justice, it emerged that there was no defamatory, denigrating or racist intent on his part," the FIGC said in a statement.
"However, it was agreed that Acerbi should be left out of the squad for the next two friendlies ... to let things settle for the national team and the player himself, who will return to his club today."
Inter said they have taken note of the FIGC's statement.
"Inter will meet with the player as soon as possible to shed light on the exact details of what happened last night," the club said in a statement.
