The annual inflation rate in the Eurozone accelerated to 2% in May of 2021 from 1.6% in April and above market forecasts of 1.9%, preliminary estimates showed. It is the highest reading since October of 2018 with the cost of energy expected to rise the most (13.1% vs 10.4% in April), followed by services (1.1% vs 0.9%), non-energy industrial goods (0.7% vs 0.4%) and food, alcohol & tobacco (0.6%, stable compared with April). The annual core inflation, which excludes volatile prices of energy, food, alcohol & tobacco is expected to edge up to 0.9% in May from 0.7%. The inflation topped the ECB’s target of just below 2% but policymakers are expected to keep monetary policy unchanged next week. The ECB has said already it is expecting a spike in inflation on the back of base effects and temporary factors, warning that it may even exceed the central bank's target by the end of the year. source: EUROSTAT

Inflation Rate in the Euro Area averaged 1.91 percent from 1991 until 2021, reaching an all time high of 5 percent in July of 1991 and a record low of -0.60 percent in July of 2009. This page provides the latest reported value for - Euro Area Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Euro Area Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2021.

Inflation Rate in Euro Area is expected to be 1.70 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Euro Area to stand at 1.20 in 12 months time. In the long-term, the Euro Area Inflation Rate is projected to trend around 1.20 percent in 2022 and 1.80 percent in 2023, according to our econometric models.

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Euro Area Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.00 1.60 5.00 -0.60 1991 - 2021 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2021-04-16 09:00 AM Inflation Rate YoY Final Mar 1.3% 0.9% 1.3% 1.3%
2021-04-30 09:00 AM Inflation Rate YoY Flash Apr 1.6% 1.3% 1.6% 1.5%
2021-05-19 09:00 AM Inflation Rate YoY Final Apr 1.6% 1.3% 1.6% 1.6%
2021-06-01 09:00 AM Inflation Rate YoY Flash May 2% 1.6% 1.9% 2%
2021-06-17 09:00 AM Inflation Rate YoY Final May 1.6% 2% 2%
2021-06-30 09:00 AM Inflation Rate YoY Flash Jun
2021-07-16 09:00 AM Inflation Rate YoY Final Jun
2021-07-30 09:00 AM Inflation Rate YoY Flash Jul
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Euro Area Inflation Rate Above Forecasts
The annual inflation rate in the Eurozone accelerated to 2% in May of 2021 from 1.6% in April and above market forecasts of 1.9%, preliminary estimates showed. It is the highest reading since October of 2018 with the cost of energy expected to rise the most (13.1% vs 10.4% in April) mostly due to the base effect as in May last year the region was in a full lockdown. Prices are also set to increase for services (1.1% vs 0.9%), non-energy industrial goods (0.7% vs 0.4%) and food, alcohol & tobacco (0.6%, stable compared with April). The annual core inflation, which excludes volatile prices of energy, food, alcohol & tobacco is expected to edge up to 0.9% from 0.7%. The ECB has said already it is expecting a spike in inflation on the back of base effects and temporary factors, warning that it may even exceed the central bank's target by the end of the year.
2021-06-01
Eurozone Inflation Rate Confirmed at 2-Year High
The consumer price inflation rate in the Euro Area was confirmed at 1.6 percent year-on-year in April of 2021, the highest since April of 2019, driven mainly by higher cost for energy (10.4 percent vs 4.3 percent in March) and non-energy industrial goods (0.4 percent vs 0.3 percent). On the other hand, prices rose at a softer pace for food, alcohol & tobacco (0.6 percent vs 1.1 percent) and services (0.9 percent vs 1.3 percent). The ECB has said already it is expecting a spike in headline inflation on the back of base effects and temporary factors, warning that it may even exceed the central bank's target by the end of the year. Meanwhile, the annual core inflation, which excludes volatile prices of energy, food, alcohol & tobacco eased to 0.7 percent from 0.9 percent in March. On a monthly basis, consumer prices went up 0.6 percent in April.
2021-05-19
Eurozone Inflation Rate at 2-Year High of 1.6%
The Eurozone consumer price inflation is expected to accelerate to 1.6 percent year-on-year in April of 2021, the highest level since April of 2019 and in line with market expectations, a preliminary estimate showed. Energy prices are set to rise by 10.3 percent (4.3 percent in March) while non-energy industrial goods cost is seen up 0.5 percent (0.3 percent in March). Meantime, slower increases are expected for services (0.9 percent vs 1.3 percent) and food, alcohol & tobacco (0.7 percent vs 1.1 percent). The annual core inflation, which excludes volatile prices of energy, food, alcohol & tobacco and at which the ECB looks in its policy decisions, is expected to slow to 0.8 percent in April from 0.9 percent.
2021-04-30
Eurozone Inflation Rate Confirmed at 14-Month High
The consumer price inflation rate in the Euro Area was confirmed at 1.3 percent year-on-year in March 2021, the highest since January 2020, driven mainly by higher cost for services (1.3 percent vs 1.2 percent in February) and energy (4.3 percent vs -1.7 percent). On the other hand, prices rose at a softer pace for non-energy industrial goods (0.3 percent vs 1.0 percent) and food, alcohol & tobacco (1.1 percent vs 1.3 percent). The ECB has said already it is expecting a spike in headline inflation on the back of base effects and temporary factors, warning that it may even exceed the central bank's target by the end of the year. Meanwhile, the annual core inflation, which excludes volatile prices of energy, food, alcohol & tobacco eased to 0.9 percent from 1.1 percent in February. On a monthly basis, consumer prices climbed 0.9 percent in March.
2021-04-16

Euro Area Inflation Rate
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.