Inflation in the euro area (2024)

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Inflation in the euro area? ›

Overview. The euro area annual inflation rate was 2.6% in February 2024, down from 2.8% in January. A year earlier, the rate was 8.5%. European Union annual inflation was 2.8% in February 2024, down from 3.1% in January.

Overview. Euro area annual inflation is expected to be 2.4% in March 2024, down from 2.6% in February according to a flash estimate from Eurostat, the statistical office of the European Union.

Basic Info. Eurozone Inflation Rate is at 2.40%, compared to 2.60% last month and 6.90% last year. This is higher than the long term average of 2.04%.

Core consumer prices In the Euro Area increased 2.90 percent in March of 2024 over the same month in the previous year. Core Inflation Rate in Euro Area averaged 1.90 percent from 1991 until 2024, reaching an all time high of 5.70 percent in March of 2023 and a record low of 0.20 percent in September of 2020.

Inflation Rate in Euro Area averaged 2.22 percent from 1991 until 2024, reaching an all time high of 10.60 percent in October of 2022 and a record low of -0.60 percent in July of 2009.

Basic Info. France Inflation Rate is at 2.40%, compared to 3.20% last month and 6.70% last year. This is higher than the long term average of 1.80%.

The annual inflation rate in the Netherlands was confirmed at 3.1% in March 2024, accelerating from 2.8% in the previous month. Inflation advanced for housing and utilities (1.9% vs 1.5% in February), transport (4.6% vs 4.1%), food and non-alcoholic beverages (0.9% vs 0.8%), and recreation and culture (2.7% vs 2.6%).

Basic Info. Spain Inflation Rate is at 3.30%, compared to 2.90% last month and 3.10% last year. This is higher than the long term average of 2.32%.

The core CPIH annual inflation rate was 4.8% in February 2024, which was the lowest rate since February 2022. It is down from 5.1% in January 2024 and from a recent high of 6.5% in May 2023, which was the highest rate since November 1991, when it was also 6.5% in the constructed historical series.

Prices in the UK rose by 3.2% in the year to March 2024, the lowest rate since September 2021. However, this remains above the Bank of England's 2% inflation target, and the Bank is not expected to cut interest rates when it meets in May.

What 3 countries have the highest inflation rates? ›

The countries with the highest interest rates are similar to those with the highest inflation rates. The current highest inflation rates by country are Venezuela (56%), Zimbabwe (130%), Argentina (100%) and Sudan (28%).

Basic Info. Italy Inflation Rate is at 1.20%, compared to 0.80% last month and 8.10% last year. This is lower than the long term average of 2.14%.

Recent high inflation in the UK has been driven mainly by 'cost-push' inflation. That happened first after the supply shortages due to the Covid pandemic and the invasion of Ukraine. And fewer people available to work after the pandemic is also 'cost-push' inflation.

China Inflation Rate is at 0.10%, compared to 0.70% last month and 0.70% last year. This is lower than the long term average of 1.72%.

Consumer Price Index CPI in European Union increased to 129.33 points in March from 128.48 points in February of 2024. Consumer Price Index CPI in European Union averaged 91.93 points from 1996 until 2024, reaching an all time high of 129.33 points in March of 2024 and a record low of 69.40 points in January of 1996.

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In March 2023, UK inflation was 10.1%. EU inflation was 2.6% in March, down from 2.8% in February. In March 2023, EU inflation was 8.3%. Inflation in the Eurozone was 2.4% in March, down from 2.6% in February.