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.

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Euro Area Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-05-31 09:00 AM Inflation Rate YoY Flash May 8.1% 7.4% 7.7% 7.6%
2022-06-17 09:00 AM Inflation Rate YoY Final May 8.1% 7.4% 8.1% 8.1%
2022-07-01 09:00 AM Inflation Rate YoY Flash Jun 8.1% 8.4% 8.3%


Related Last Previous Unit Reference
Inflation Rate 8.10 7.40 percent May 2022
Inflation Rate Mom 0.80 0.60 percent May 2022
Consumer Price Index CPI 116.07 115.11 points May 2022
Core Inflation Rate 3.80 3.50 percent May 2022
Core Consumer Prices 110.25 109.73 points May 2022
GDP Deflator 110.62 109.67 points Dec 2021
Producer Prices 148.00 146.30 points Apr 2022
Producer Prices Change 37.20 36.90 percent Apr 2022
Import Prices 118.40 115.60 points Apr 2022
Food Inflation 8.70 7.40 percent May 2022
Energy Prices 28.60 25.90 Percent Jan 2022
CPI Transportation 124.46 122.75 points May 2022
CPI Housing Utilities 124.74 124.03 points May 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
8.10 7.40 8.10 -0.60 1991 - 2022 percent Monthly

News Stream
Euro Area Inflation Rate Confirmed at Record 8.1%
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.
2022-06-17
Euro Area Inflation Rate Tops Fresh Record of 8.1%
Annual inflation rate in the Euro Area increased to 8.1% in May of 2022, a fresh record high, from 7.4% in each of the previous two months and well above market forecasts of 7.7%. Preliminary estimates showed energy prices continue to record the biggest increase (39.2% vs 37.5% in April) although there is a widespread price increase, including for food, alcohol and tobacco (7.5% vs 6.3%), non-energy industrial goods (4.2% vs 3.8%) and services (3.5% vs 3.3%). Excluding energy, inflation accelerated to 4.6% from 4.1%, more than the double the ECB target of 2%, in a sign price pressures in Europe remain elevated and have not peaked, strengthening the case for the ECB to start raising borrowing costs.
2022-05-31
Euro Area Inflation Rate Revised Slightly Lower, Remains at Record
Annual inflation rate in the Euro Area was revised slightly lower to 7.4% in April of 2022 from a preliminary of 7.5%, but remaining at a record high level. It compares with a 7.4% rate in March. The highest increase continues to come from energy (37.5% vs 44.3% in March), followed by services (3.3% vs 2.7%), food, alcohol & tobacco (6.3% vs 5%) and non-energy industrial goods (3.8% vs 3.4%). The inflation is now more than three times above the ECB target of 2% and is not expected to get back to the target soon as the energy crisis was exacerbated by the Russian invasion of Ukraine while rising demand and persistent supply and logistics constraints due to the coronavirus pandemic led to a generalised rise in consumer prices. The European Commission sees inflation at 6.1% in 2022, before falling to 2.7% in 2023.
2022-05-18