Overview
eurozone Annual inflation is expected to be 2.6% in May 2024 from 2.4% in April, according to the flash estimate of Eurostat, the statistical office of the European Union.
Looking at the main components of inflation in the euro area, services are expected to have the highest year-on-year pace in May (4.1% compared to 3.7% in April), followed by food, alcohol and tobacco (2.6% versus 2.8% in April ), non-energy manufactured goods (0.8% versus 0.9% in April) and energy (0.3% versus -0.6% in April).
Tables
|
Annual inflation in the euro area and its components (%) |
|||||||||
|---|---|---|---|---|---|---|---|---|---|
|
Weights (‰) |
Annual rate |
Monthly rate |
|||||||
|
2024 |
May 23rd |
December 23rd |
January 24th |
February 24th |
March 24th |
24th April |
May 24th |
May 24th |
|
|
All HICP items |
1000.0 |
6.1 |
2.9 |
2.8 |
2.6 |
2.4 |
2.4 |
2.6e |
0.2e |
|
All items except: 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 and tobacco |
706.2 |
5.3 |
3.4 |
3.3 |
3.1 |
2.9 |
2.7 |
2.9e |
0.4e |
|
Food, alcohol and tobacco |
194.7 |
12.5 |
6.1 |
5.6 |
3.9 |
2.6 |
2.8 |
2.6e |
0.2e |
|
processed foods, alcohol and tobacco |
151.2 |
13.4 |
5.9 |
5.2 |
4.5 |
3.5 |
3.2 |
2.9e |
0.1e |
|
unprocessed foods |
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
|
|||||||||
|
Inflation rates (%) measured by the HICP |
||||||||
|---|---|---|---|---|---|---|---|---|
|
|
Annual rate |
Monthly rate |
||||||
|
May 23rd |
December 23rd |
January 24th |
February 24th |
March 24th |
24th April |
May 24th |
May 24th |
|
|
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 |
|
Holland |
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
Revision and schedule
A flash estimate of inflation in the euro area is issued at the end of each reference month.
The full set of harmonized indices of consumer prices (HICP) for the euro area, the EU and the Member States is published around the middle of the month following the reference month.
The next release with full dates for May 2024 is scheduled for June 18, 2024.
Methods and definitions
Annual inflation is the change in 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 in the price level between the current and the previous month.
Geographic information
The eurozone consists of Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.
Eurozone data refer to the composition of countries at a specific point in time. Changes in the composition of the euro area are included using a chain index formula.