Euro Area Inflation Rate Jumps More than Estimated

2026-04-16 09:07 By Joana Taborda 1 min. read

The Euro Area’s annual inflation rate was revised higher to 2.6% in March 2026, the highest level since July 2024, up from a preliminary estimate of 2.5% and accelerating from 1.9% in February.

The increase was largely driven by energy, with prices rising 5.1%, the first annual gain in nearly a year and the strongest since February 2023, compared to the initial estimate of 4.9%, as the conflict with Iran pushed oil prices sharply higher.

On the other hand, a slowdown was seen in inflation for services (3.2% vs 3.4%), non-energy industrial goods (0.5% vs 0.7%) and food, alcohol and tobacco (2.4% vs 2.5%).

Annual core inflation also edged lower to 2.3% from 2.4%, matching the initial estimate.

Compared to the previous month, the CPI jumped 1.3%, the most since October 2022.

Considering the bloc's largest economies, inflation rose in Germany (2.8% vs 2%), France (2% vs 1.1%), Italy (1.6% vs 1.5%), Spain (3.4% vs 2.5%) and Netherlands (2.6% vs 2.3%).



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Euro Area Inflation Rate Jumps More than Estimated
The Euro Area’s annual inflation rate was revised higher to 2.6% in March 2026, the highest level since July 2024, up from a preliminary estimate of 2.5% and accelerating from 1.9% in February. The increase was largely driven by energy, with prices rising 5.1%, the first annual gain in nearly a year and the strongest since February 2023, compared to the initial estimate of 4.9%, as the conflict with Iran pushed oil prices sharply higher. On the other hand, a slowdown was seen in inflation for services (3.2% vs 3.4%), non-energy industrial goods (0.5% vs 0.7%) and food, alcohol and tobacco (2.4% vs 2.5%). Annual core inflation also edged lower to 2.3% from 2.4%, matching the initial estimate. Compared to the previous month, the CPI jumped 1.3%, the most since October 2022. Considering the bloc's largest economies, inflation rose in Germany (2.8% vs 2%), France (2% vs 1.1%), Italy (1.6% vs 1.5%), Spain (3.4% vs 2.5%) and Netherlands (2.6% vs 2.3%).
2026-04-16
Eurozone Inflation Surges in March on Energy Shock
Euro area annual inflation climbed to 2.5% in March 2026, up from 1.9% in February and slightly below market expectations of 2.6%, according to a preliminary estimate. This marked the highest rate since January 2025, pushing inflation above the ECB’s 2% target as energy costs soared 4.9%, the first annual increase in nearly a year and the sharpest since February 2023, driven by the Middle East conflict. Meanwhile, price pressures eased in other sectors: services inflation slowed to 3.2% (from 3.4%), non-energy industrial goods fell to 0.5% (from 0.7%), and food, alcohol, and tobacco dipped to 2.4% (from 2.5%). The core rate, excluding volatile energy, also cooled to 2.3% from 2.4%. Among the Eurozone’s largest economies, inflation accelerated sharply in Germany (2.8% vs. 2.0%), France (1.9% vs. 1.1%), Spain (3.3% vs. 2.5%), and the Netherlands (2.6% vs. 2.3%), while Italy's rate remained stable at 1.5%.
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Eurozone February Inflation Rate Confirmed at 1.9%
The Eurozone’s annual inflation rate was confirmed at 1.9% in February 2026, up from January’s 16-month low of 1.7%, driven by a notable acceleration in services inflation, which climbed to 3.4% from 3.2%, and a pickup in non-energy industrial goods inflation, rising to 0.7% from 0.4%. Meanwhile, food, alcohol, and tobacco inflation edged down slightly to 2.5% from 2.6%, while energy prices continued to decline, though at a slower pace, falling 3.1% compared to January’s 4.0% drop. Core inflation, which excludes volatile energy, food, alcohol, and tobacco prices, increased to 2.4%, rebounding from January’s more than four-year low of 2.2%. Among the bloc’s largest economies, the Harmonised Index of Consumer Prices accelerated in France (1.1% vs. 0.4%), Spain (2.5% vs. 2.4%) and Italy (1.5% vs. 1.0%), while easing slightly in Germany (2.0% vs. 2.1%).
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