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.