The Eurozone annual inflation rate was confirmed at 3.4 percent in September 2021, the highest rate since before the global financial crisis in September 2008 and well above the European Central Bank's target of 2.0 percent, raising concerns about the policymakers' narrative that recent price spikes are seen as temporary. Energy prices were responsible for almost half of the overall year-on-year inflation reading, rising by 17.6 percent in September after a 15.4 percent advance in August. Additional upward pressure came from services (1.7 percent vs 1.1 percent) and food, alcohol & tobacco (2.0 percent, the same as in August). Meanwhile, cost for non-energy industrial goods rose at a slower pace (2.1 percent vs 2.6 percent). The annual core inflation, which excludes volatile prices of energy, food, alcohol & tobacco, climbed to 1.9 percent, the highest rate since December 2008. source: EUROSTAT

Inflation Rate in the Euro Area averaged 1.92 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 October of 2021.

Inflation Rate in Euro Area is expected to be 2.40 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 1.50 percent in 2022 and 1.80 percent in 2023, according to our econometric models.

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Euro Area Inflation Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-08-31 09:00 AM Inflation Rate YoY Flash Aug 3% 2.2% 2.7% 2.7%
2021-09-17 09:00 AM Inflation Rate YoY Final Aug 3% 2.2% 3% 3%
2021-10-01 09:00 AM Inflation Rate YoY Flash Sep 3.4% 3% 3.3% 3.1%
2021-10-20 09:00 AM Inflation Rate YoY Final Sep 3.4% 3% 3.4% 3.4%
2021-10-29 09:00 AM Inflation Rate YoY Flash Oct 3.4% 3.7% 3.6%
2021-11-17 10:00 AM Inflation Rate YoY Final Oct
2021-11-30 10:00 AM Inflation Rate YoY Flash Nov
2021-12-17 10:00 AM Inflation Rate YoY Final Nov


News Stream
Eurozone Inflation Rate Confirmed at 13-Year High
The Eurozone annual inflation rate was confirmed at 3.4 percent in September 2021, the highest rate since before the global financial crisis in September 2008 and well above the European Central Bank's target of 2.0 percent, raising concerns about the policymakers' narrative that recent price spikes are seen as temporary. Energy prices were responsible for almost half of the overall year-on-year inflation reading, rising by 17.6 percent in September after a 15.4 percent advance in August. Additional upward pressure came from services (1.7 percent vs 1.1 percent) and food, alcohol & tobacco (2.0 percent, the same as in August). Meanwhile, cost for non-energy industrial goods rose at a slower pace (2.1 percent vs 2.6 percent). The annual core inflation, which excludes volatile prices of energy, food, alcohol & tobacco, climbed to 1.9 percent, the highest rate since December 2008.
2021-10-20
Eurozone Inflation Rate Jumps to 13-Year High
The Eurozone annual inflation rate is expected to accelerate to 3.4 percent in September 2021, from 3.0 percent in the previous month and slightly above market expectations of 3.3 percent, a preliminary estimate showed. That would match the highest rate of inflation since before the global financial crisis in September 2008, raising concerns about the ECB's narrative that recent price spikes are seen as temporary and the economy requires depressed borrowing costs. Energy cost is seen accounting for much of the increase, rising by 17.4 percent in September after a 15.4 percent advance in August. Additional upward pressure should come from services (1.7 percent vs 1.1 percent) and food (2.1 percent vs 2.0 percent). Cost for non-energy industrial goods likely rose at a slower pace (2.1 percent vs 2.6 percent). The annual core inflation, which excludes volatile prices of energy, food, alcohol & tobacco, climbed to 1.9 percent, the highest rate since December 2008.
2021-10-01
Eurozone Inflation Rate Confirmed at Decade-High
The Eurozone annual inflation rate was confirmed at 3.0 percent in August 2021, highest since November 2011 and well above the European Central Bank's target of 2.0 percent. Still, several policymakers have been dismissing inflation pressures as temporary, while others voiced concerns about a quicker-than-expected increase in consumer prices, mainly reflecting a low base year due to the coronavirus crisis and a global supply squeeze. Energy cost accounted for much of the increase, rising by 15.4 percent in August after a 14.3 percent advance in July. Additional upward pressure should come from services (1.1 percent vs 0.9 percent), non-energy industrial goods (2.6 percent vs 0.7 percent), and food (2.0 percent vs 1.6 percent). The annual core inflation, which excludes volatile prices of energy, food, alcohol & tobacco, climbed to 1.6 percent, the highest rate since July 2012.
2021-09-17
Eurozone Inflation Rate Jumps to Near-Decade High
The Eurozone annual inflation rate is expected to accelerate to 3 percent in August 2021, from 2.2 percent in the previous month and well above market expectations of 2.7 percent, a preliminary estimate showed. That would match the highest rate of inflation since November 2011, which could trigger some vigorous debate at next week's European Central Bank policy meeting. Prices have been rising due to a steady recovery in domestic demand and a low base year caused by the COVID-19 crisis. Energy cost is seen accounting for much of the increase, rising by 15.4 percent in August after a 14.3 percent advance in July. Additional upward pressure should come from services (1.1 percent vs 0.9 percent), non-energy industrial goods (2.7 percent vs 0.7 percent), and food (2.0 percent vs 1.6 percent). The annual core inflation, which excludes volatile prices of energy, food, alcohol & tobacco, climbed to 1.6 percent, the highest rate since July 2012 but below the ECB's target of 2 percent.
2021-08-31

Euro Area Last Unit Reference Previous Highest Lowest
Inflation Rate 3.40 percent Sep/21 3.00 5.00 -0.60
Inflation Rate Mom 0.50 percent Sep/21 0.40 1.30 -1.50
Consumer Price Index CPI 108.49 points Sep/21 107.98 108.49 70.40
Core Inflation Rate 1.90 percent Sep/21 1.60 2.60 0.20
Core Consumer Prices 106.90 points Sep/21 106.35 106.90 75.10
GDP Deflator 108.27 points Jun/21 108.10 108.27 72.21
Producer Prices 114.90 points Aug/21 113.70 114.90 49.10
Producer Prices Change 13.40 percent Aug/21 12.40 13.40 -8.20
Import Prices 106.90 points Aug/21 106.00 106.90 93.30
Food Inflation 1.90 percent Sep/21 1.90 6.90 -1.60
CPI Transportation 111.76 points Sep/21 112.17 112.17 66.00
CPI Housing Utilities 109.94 points Sep/21 109.13 109.94 60.35


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.