The consumer price inflation rate in the Euro Area was confirmed at 2.0 percent year-on-year in May 2021, the highest since October 2018, due to the low base year and reflecting a sharp rebound in demand following the re-opening of the economy. Upward pressure came from energy (13.1 percent vs 10.4 percent in April), services (1.1 percent vs 0.9 percent), and non-energy industrial goods (0.7 percent vs 0.4 percent). On the other hand, cost for food, alcohol & tobacco rose at a slightly slower pace (0.5 percent vs 0.6 percent). Meanwhile, the annual core inflation, which excludes volatile prices of energy, food, alcohol & tobacco picked up to 1.0 percent, from 0.7 percent in April. On a monthly basis, consumer prices advanced 0.3 percent. 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.