Annual inflation rate in the Euro Area was confirmed at a record-high of 8.1% in May of 2022, above 7.4% in each of the previous two months and four times higher than a year earlier. There was a broad-based increase in prices, with energy (39.1%), food, alcohol & tobacco (7.5%), services (3.5%) and non-energy industrial goods (4.2%) making the biggest upward pressure. The inflation rate in the Euro Area remains well above the ECB's target of 2% and the central bank will start raising borrowing costs from July to bring it back to the target. source: EUROSTAT
Inflation Rate in the Euro Area averaged 2.01 percent from 1991 until 2022, reaching an all time high of 8.10 percent in May of 2022 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 2022.
Inflation Rate in Euro Area is expected to be 8.30 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 2.20 percent in 2023 and 2.00 percent in 2024, according to our econometric models.