Annual inflation rate in the Euro Area increased to a new record high of 8.6% in June of 2022 from 8.1% in May, preliminary estimates showed. Figures topped market expectations of 8.4%, strengthening the case for the ECB's first rate hike in 11 years in July. Prices continued to accelerate for energy (41.9%, compared with 39.1% in May); food, alcohol & tobacco (8.9% vs 7.5%); non-energy industrial goods (4.3% vs 4.2%), but eased slightly for services (3.4% vs 3.5%). Excluding energy, inflation also increased to 5% from 4.6% but the core index which excludes cost of energy, food, alcohol & tobacco edged down to 3.7% from 3.8%. Compared to the previous month, consumer prices were up 0.8%, the same as in May. source: EUROSTAT
Inflation Rate in the Euro Area averaged 2.02 percent from 1991 until 2022, reaching an all time high of 8.60 percent in June 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 July of 2022.
Inflation Rate in Euro Area is expected to be 7.80 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.