Euro Area Inflation Rate

Last Release

Oct 31, 2024

Actual

Units In

1.7

Frequency

Monthly

Next Release

Nov 29, 2024

Time to Release

9 Days 20 Hours

Highest	Lowest	Average	Date Range	Source
10.6 Oct 2022	-0.6 Jul 2009	2.25 %	1991-2024	Eurostat

In Euro Area, the inflation rate is calculated using the weighted average of the Harmonised Index of Consumer Price (HICP) aggregates. The main components of the HICP are: food, alcohol and tobacco (19 percent of the total weight), energy (11 percent), non-energy industrial goods (29 percent) and services (41 percent). The HICP aggregates are computed as the weighted average of each country’s HICP components. The weight of a country is its share of household final monetary consumption expenditure in the total of the country’s group. The local HICPs are supplied to the Eurostat by the National Statistical Institutes.

Latest Updates

Annual inflation in the Euro Area accelerated to 2% in October 2024, up from 1.7% in September which was the lowest level since April 2021, and in line with the preliminary estimates. This year-end increase was largely expected due to base effects, as last year’s sharp declines in energy prices are no longer factored into annual rates. Inflation has now reached the European Central Bank’s target. In October, energy cost fell at a slower pace (-4.6% vs -6.1%) and prices rose faster for food, alcohol and tobacco (2.9% vs 2.4%) and non-energy industrial goods (0.5% vs 0.4%). Services inflation also accelerated to 4%, compared to initial estimates it would stabilize at 3.9%. Meanwhile, annual core inflation rate which excludes prices for energy, food, alcohol and tobacco was unchanged at 2.7%, the lowest since February 2022. Compared to the previous month, the CPI rose 0.3%, following a 0.1% fall in September.