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Inflation

Eurozone annual inflation up to 2.3%

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Overview

Eurozone annual inflation is expected to be 2.3% in November 2024, up from 2.0% in October according to a flash estimate from Eurostat, the statistical office of the European Union.

Looking at the main components of euro area inflation, services is expected to have the highest annual rate in November (3.9%, compared with 4.0% in October), followed by food, alcohol & tobacco (2.8%, compared with 2.9% in October), non-energy industrial goods (0.7%, compared with 0.5% in October) and energy (-1.9%, compared with -4.6% in October).

Tables

Weights (‰)Annual rateMonthly rate
2024Nov 23Jun 24Jul 24Aug 24Sep 24Oct 24Nov 24Nov 24
All-items HICP1000.02.42.52.62.21.72.02.3e-0.3e
All-items excluding:energy900.94.32.82.72.72.62.72.7e-0.4e
energy, unprocessed food857.44.22.82.82.82.72.72.8e-0.4e
energy, food, alcohol & tobacco706.23.62.92.92.82.72.72.7e-0.6e
Food, alcohol & tobacco194.76.92.42.32.32.42.92.8e0.3e
processed food, alcohol & tobacco151.27.12.72.72.72.62.82.9e0.2e
unprocessed food43.56.31.31.01.11.63.02.4e0.4e
Energy99.1-11.50.21.2-3.0-6.1-4.6-1.9e0.6e
Non-energy industrial goods257.32.90.70.70.40.40.50.7e0.0e
Services448.84.04.14.04.13.94.03.9e-0.9e

e estimate

Source dataset: prc_hicp_manr   

 Annual rateMonthly rate
Nov 23Jun 24Jul 24Aug 24Sep 24Oct 24Nov 24Nov 24
Belgium-0.85.45.44.34.34.55.0e0.4e
Germany2.32.52.62.01.82.42.4e-0.7e
Estonia4.12.83.53.43.24.53.8e-0.7e
Ireland2.51.51.51.10.00.10.5e-0.5e
Greece2.92.53.03.23.13.13.0e-1.1e
Spain3.33.62.92.41.71.82.4e0.0e
France3.92.52.72.21.41.61.7e-0.1e
Croatia5.53.53.33.03.13.64.0e0.0e
Italy0.60.91.61.20.71.01.6e0.0e
Cyprus2.43.02.42.21.61.62.4e-0.8e
Latvia1.11.50.80.91.62.12.3e0.1e
Lithuania2.31.01.10.80.40.11.1e0.5e
Luxembourg2.12.82.71.70.80.91.1e-0.4e
Malta3.92.22.32.42.12.42.3e-3.0e
Netherlands1.43.43.53.33.33.33.8e-1.0e
Austria4.93.12.92.41.81.82.0e0.3e
Portugal2.23.12.71.82.62.62.7e-1.0e
Slovenia4.51.61.41.10.70.01.6e0.8e
Slovakia6.92.43.03.22.93.53.6e0.2e
Finland0.70.50.51.11.01.51.9e-0.1e

Source dataset: prc_hicp_manr

Notes for users

Revisions and timetable

The eurozone inflation flash estimate is issued at the end of each reference month.

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The complete set of harmonized indices of consumer prices (HICP) for the euro area, EU and member states is released around the middle of the month following the reference month.

The next release with full data for November 2024 is scheduled for 18 December 2024.

Methods and definitions

Annual inflation is the change of the price level of consumer goods and services between the current month and the same month of the previous year. Monthly inflation is the change of the price level between the current month and the previous month.

Geographical information

The eurozone consists of Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.

The eurozone data refer to the country composition at a specific point in time. Changes in the composition of the eurozone are incorporated using a chain index formula.

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