Eurozone Inflation Confirmed at Highest Since 2023

2026-05-20 09:11 By Joana Ferreira 1 min. read

The Euro Area’s annual inflation rate was confirmed at 3.0% in April 2026, the highest since September 2023 and significantly above the European Central Bank’s 2.0% target.

Energy prices surged 10.8%, the sharpest increase since February 2023, driven by Middle East conflict-related supply constraints.

Inflation also picked up for non-energy industrial goods (0.8% vs. 0.5% in March) and unprocessed food (4.6% vs. 4.2%).

Meanwhile, price growth slowed for services (3.0% vs. 3.3%) and processed food, alcohol, and tobacco (1.6% vs. 1.7%).

The core rate, excluding energy, food, alcohol, and tobacco, eased to 2.2% from 2.3%.

Among the Eurozone’s major economies, inflation accelerated in Germany (2.9% vs. 2.8%), France (2.5% vs. 2.0%), Italy (2.8% vs. 1.6%), and Spain (3.5% vs. 3.4%), but moderated in the Netherlands (2.5% vs. 2.6%).



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