Annual inflation rate in the Euro Area was revised slightly lower to 7.4% in April of 2022 from a preliminary of 7.5%, but remaining at a record high level. It compares with a 7.4% rate in March. The highest increase continues to come from energy (37.5% vs 44.3% in March), followed by services (3.3% vs 2.7%), food, alcohol & tobacco (6.3% vs 5%) and non-energy industrial goods (3.8% vs 3.4%). The inflation is now more than three times above the ECB target of 2% and is not expected to get back to the target soon as the energy crisis was exacerbated by the Russian invasion of Ukraine while rising demand and persistent supply and logistics constraints due to the coronavirus pandemic led to a generalised rise in consumer prices. The European Commission sees inflation at 6.1% in 2022, before falling to 2.7% in 2023. source: EUROSTAT
Inflation Rate in the Euro Area averaged 1.99 percent from 1991 until 2022, reaching an all time high of 7.40 percent in March of 2022 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 May of 2022.
Inflation Rate in Euro Area is expected to be 6.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Euro Area Inflation Rate is projected to trend around 2.20 percent in 2023 and 2.00 percent in 2024, according to our econometric models.