Euro area annual inflation down to 2.5% (2024)

Euro indicators 2 July 2024 Next release: 31 July 2024

Flash estimate - June 2024

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Overview

Euro area annual inflation is expected to be 2.5% in June 2024, down from 2.6% in May 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 June (4.1%, stable compared with May), followed by food, alcohol & tobacco (2.5%, compared with 2.6% in May), non-energy industrial goods (0.7%, stable compared with May) and energy (0.2%, compared with 0.3% in May).

Euro area annual inflation down to 2.5% (1)

Tables

Euro area annual inflation and its components (%)

Weights (‰)

Annual rate

Monthly rate

2024

Jun 23

Jan 24

Feb 24

Mar 24

Apr 24

May 24

Jun 24

Jun 24

All-items HICP

1000.0

5.5

2.8

2.6

2.4

2.4

2.6

2.5e

0.2e

All-items excluding:

energy

900.9

6.9

3.8

3.3

2.9

2.7

2.8

2.8e

0.3e

energy, unprocessed food

857.4

6.8

3.6

3.3

3.1

2.8

2.9

2.8e

0.4e

energy, food, alcohol & tobacco

706.2

5.5

3.3

3.1

2.9

2.7

2.9

2.9e

0.3e

Food, alcohol & tobacco

194.7

11.6

5.6

3.9

2.6

2.8

2.6

2.5e

0.2e

processed food, alcohol & tobacco

151.2

12.4

5.2

4.5

3.5

3.2

2.8

2.8e

0.4e

unprocessed food

43.5

9.0

6.9

2.1

-0.5

1.2

1.8

1.4e

-0.4e

Energy

99.1

-5.6

-6.1

-3.7

-1.8

-0.6

0.3

0.2e

-0.8e

Non-energy industrial goods

257.3

5.5

2.0

1.6

1.1

0.9

0.7

0.7e

-0.1e

Services

448.8

5.4

4.0

4.0

4.0

3.7

4.1

4.1e

0.6e

e estimate

Euro area annual inflation down to 2.5% (2)

Inflation rates (%) measured by the HICP

Annual rate

Monthly rate

Jun 23

Jan 24

Feb 24

Mar 24

Apr 24

May 24

Jun 24

Jun 24

Belgium

1.6

1.5

3.6

3.8

4.9

4.9

5.5e

0.5e

Germany

6.8

3.1

2.7

2.3

2.4

2.8

2.5e

0.2e

Estonia

9.0

5.0

4.4

4.1

3.1

3.1

2.8e

0.5e

Ireland

4.8

2.7

2.3

1.7

1.6

2.0

1.5e

0.3e

Greece

2.8

3.2

3.1

3.4

3.2

2.4

2.4e

1.0e

Spain

1.6

3.5

2.9

3.3

3.4

3.8

3.5e

0.3e

France

5.3

3.4

3.2

2.4

2.4

2.6

2.5e

0.1e

Croatia

8.3

4.8

4.8

4.9

4.7

4.3

3.4e

0.8e

Italy

6.7

0.9

0.8

1.2

0.9

0.8

0.9e

0.2e

Cyprus

2.8

2.1

2.1

1.6

2.1

3.0

3.1e

0.4e

Latvia

8.1

1.1

0.6

1.0

1.1

0.0

1.4e

0.0e

Lithuania

8.2

1.1

1.1

0.4

0.4

0.9

1.0e

0.0e

Luxembourg

1.0

3.0

3.2

3.2

3.0

3.2

2.8e

0.0e

Malta

6.2

3.7

3.0

2.7

2.4

2.3

2.1e

1.3e

Netherlands

6.4

3.1

2.7

3.1

2.6

2.7

3.4e

0.2e

Austria

7.8

4.3

4.0

4.1

3.4

3.3

3.2e

0.1e

Portugal

4.7

2.5

2.3

2.6

2.3

3.8

3.1e

-0.3e

Slovenia

6.6

3.4

3.4

3.4

3.0

2.5

1.6e

0.0e

Slovakia

11.3

4.4

3.8

2.7

2.4

2.6

2.4e

0.0e

Finland

4.1

1.1

1.1

0.6

0.6

0.4

0.6e

0.0e

e estimate

Source dataset: prc_hicp_manr

Euro area annual inflation down to 2.5% (3)

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 June 2024 is scheduled for 17 July 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.

For more information

  • Website section on inflation

  • Database section on inflation

  • Statistics Explained article on inflation in the euro area

  • Metadata on inflation

  • Euro indicators dashboard

  • Release calendar for Euro indicators

  • European Statistics Code of Practice

Get in touch

Media requests

Eurostat Media Support

Phone: (+352) 4301 33 408

E-mail: eurostat-mediasupport@ec.europa.eu

Further information on data

E-mail: estat-hicp@ec.europa.eu

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Euro area annual inflation down to 2.5% (2024)
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