Overview
Euro area annual inflation is expected to be 2.6% in May 2024, up from 2.4% in April 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 May (4.1%, compared with 3.7% in April), followed by food, alcohol & tobacco (2.6%, compared with 2.8% in April), non-energy industrial goods (0.8%, compared with 0.9% in April) and energy (0.3%, compared with -0.6% in April).
Tables                                                                    Â
|
Euro area annual inflation and its components (%) |
|||||||||
|---|---|---|---|---|---|---|---|---|---|
|
Weights (‰) |
Annual rate |
Monthly rate |
|||||||
|
2024 |
May 23 |
Dec 23 |
Jan 24 |
Feb 24 |
Mar 24 |
Apr 24 |
May 24 |
May 24 |
|
|
All-items HICP |
1000.0 |
6.1 |
2.9 |
2.8 |
2.6 |
2.4 |
2.4 |
2.6e |
0.2e |
|
All-items excluding: energy |
900.9 |
7.0 |
4.0 |
3.8 |
3.3 |
2.9 |
2.7 |
2.8e |
0.4e |
|
energy, unprocessed food |
857.4 |
6.9 |
3.9 |
3.6 |
3.3 |
3.1 |
2.8 |
2.9e |
0.4e |
|
energy, food, alcohol & tobacco |
706.2 |
5.3 |
3.4 |
3.3 |
3.1 |
2.9 |
2.7 |
2.9e |
0.4e |
|
Food, alcohol & tobacco |
194.7 |
12.5 |
6.1 |
5.6 |
3.9 |
2.6 |
2.8 |
2.6e |
0.2e |
|
processed food, alcohol & tobacco |
151.2 |
13.4 |
5.9 |
5.2 |
4.5 |
3.5 |
3.2 |
2.9e |
0.1e |
|
unprocessed food |
43.5 |
9.6 |
6.8 |
6.9 |
2.1 |
-0.5 |
1.2 |
1.8e |
0.6e |
|
Energy |
99.1 |
-1.8 |
-6.7 |
-6.1 |
-3.7 |
-1.8 |
-0.6 |
0.3e |
-1.2e |
|
Non-energy industrial goods |
257.3 |
5.8 |
2.5 |
2.0 |
1.6 |
1.1 |
0.9 |
0.8e |
0.1e |
|
Services |
448.8 |
5.0 |
4.0 |
4.0 |
4.0 |
4.0 |
3.7 |
4.1e |
0.6e |
|
e estimate  Â
|
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|
Inflation rates (%) measured by the HICP |
||||||||
|---|---|---|---|---|---|---|---|---|
|
 |
Annual rate |
Monthly rate |
||||||
|
May 23 |
Dec 23 |
Jan 24 |
Feb 24 |
Mar 24 |
Apr 24 |
May 24 |
May 24 |
|
|
Belgium |
2.7 |
0.5 |
1.5 |
3.6 |
3.8 |
4.9 |
4.9e |
0.2e |
|
Germany |
6.3 |
3.8 |
3.1 |
2.7 |
2.3 |
2.4 |
2.8e |
0.2e |
|
Estonia |
11.2 |
4.3 |
5.0 |
4.4 |
4.1 |
3.1 |
3.1e |
0.0e |
|
Ireland |
5.4 |
3.2 |
2.7 |
2.3 |
1.7 |
1.6 |
1.9e |
0.5e |
|
Greece |
4.1 |
3.7 |
3.2 |
3.1 |
3.4 |
3.2 |
2.3e |
-0.3e |
|
Spain |
2.9 |
3.3 |
3.5 |
2.9 |
3.3 |
3.4 |
3.8e |
0.2e |
|
France |
6.0 |
4.1 |
3.4 |
3.2 |
2.4 |
2.4 |
2.7e |
0.2e |
|
Croatia |
8.3 |
5.4 |
4.8 |
4.8 |
4.9 |
4.7 |
4.3e |
0.2e |
|
Italy |
8.0 |
0.5 |
0.9 |
0.8 |
1.2 |
0.9 |
0.8e |
0.2e |
|
Cyprus |
3.6 |
1.9 |
2.1 |
2.1 |
1.6 |
2.1 |
3.0e |
1.2e |
|
Latvia |
12.3 |
0.9 |
1.1 |
0.6 |
1.0 |
1.1 |
0.2e |
0.5e |
|
Lithuania |
10.7 |
1.6 |
1.1 |
1.1 |
0.4 |
0.4 |
0.8e |
0.3e |
|
Luxembourg |
2.0 |
3.2 |
3.0 |
3.2 |
3.2 |
3.0 |
3.2e |
0.1e |
|
Malta |
6.3 |
3.7 |
3.7 |
3.0 |
2.7 |
2.4 |
2.3e |
1.6e |
|
Netherlands |
6.8 |
1.0 |
3.1 |
2.7 |
3.1 |
2.6 |
2.7e |
0.3e |
|
Austria |
8.7 |
5.7 |
4.3 |
4.0 |
4.1 |
3.4 |
3.3e |
0.0e |
|
Portugal |
5.4 |
1.9 |
2.5 |
2.3 |
2.6 |
2.3 |
3.9e |
1.1e |
|
Slovenia |
8.1 |
3.8 |
3.4 |
3.4 |
3.4 |
3.0 |
2.5e |
0.4e |
|
Slovakia |
12.3 |
6.6 |
4.4 |
3.8 |
2.7 |
2.4 |
2.7e |
0.2e |
|
Finland |
5.0 |
1.3 |
1.1 |
1.1 |
0.6 |
0.6 |
0.5e |
0.0e |
|
e estimate   Source dataset: prc_hicp_manr
|
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Notes for users
Revisions and timetable
The euro area inflation flash estimate is issued at the end of each reference month.
The complete set of harmonised 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 May 2024 is scheduled for 18 June 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 euro area 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 euro area data refer to the country composition at a specific point in time. Changes in the composition of the euro area are incorporated using a chain index formula.