Euro Area HICP Inflation

Data Prices

Source: Eurostat
Source Link: https://ec.europa.eu/
Frequency: Monthly
Next Release(s): December 2nd, 2025 6:00 AM

Latest Updates

Source
Euro area HICP inflation eased slightly to +2.1% YoY in October 2025 (from +2.2% in September) and rose +0.2% MoM, showing marginal cooling as lower energy and food prices offset stronger service inflation.
- Core inflation (excluding energy, food, alcohol & tobacco) was estimated at +2.4% YoY, stable from September, indicating steady underlying price pressures.
- Services inflation accelerated to +3.4% YoY (from +3.2%), remaining the largest contributor to headline inflation.
- Food, alcohol & tobacco inflation slowed to +2.5% YoY (from +3.0%), reflecting moderation in both processed and unprocessed food prices.
- Processed food inflation eased to +2.4% YoY (from +2.6%), while unprocessed food fell sharply to +3.2% (from +4.7%), showing a marked deceleration in fresh food costs.
- Energy prices declined -1.0% YoY (after -0.4%), extending their downward trend and exerting continued drag on the overall index.
- Non-energy industrial goods inflation softened to +0.6% YoY (from +0.8%), signaling weak goods-related price momentum across the euro area.
Source
Source
Euro area HICP inflation was steady at 2.2% YoY (vs 2.2% YoY expected) in September 2025 (up from 2.0% YoY in August), with the monthly rate rising +0.1% MoM, showing only a modest pickup in price pressures.
- Core inflation (ex energy, food, alcohol & tobacco) held at 2.3% YoY for the fifth consecutive month, with a +0.1% MoM increase.
- Food, alcohol & tobacco inflation eased slightly to 3.0% YoY (from 3.2%), with processed food slowing to 2.6% YoY while unprocessed food accelerated to 4.7% YoY.
- Energy prices declined -0.4% YoY (vs -2.0% in August), marking the mildest annual drop since early 2024; MoM energy inflation fell -0.1%.
- Services inflation remained elevated at 3.2% YoY (from 3.1%) but registered a sharp -0.9% MoM decline, pointing to some easing in momentum.
- Non-energy industrial goods inflation was unchanged at 0.8% YoY but rose +2.2% MoM, consistent with stable goods price pressures.
Source
Euro area HICP inflation in August was revised down to 2.0% YoY from the initial estimate of 2.1% YoY, with monthly inflation revised down to 0.1% MoM from the initial estimate of 0.2% MoM, reflecting softer headline price pressures.
- Core inflation (ex energy, food, alcohol & tobacco) was confirmed at 2.3% YoY, after a 0.3% MoM increase.
- Services inflation eased slightly to 3.1% YoY (from 3.2% in July), with a +0.3% MoM gain keeping it the largest contributor to overall price pressures.
- Non-energy industrial goods rose 0.8% YoY and +0.3% MoM, indicating stable but modest goods price growth.
- Food, alcohol & tobacco inflation slowed to 3.2% YoY (from 3.3%) and was flat MoM, while processed food rose 2.6% YoY and +0.2% MoM.
- Unprocessed food inflation accelerated to 5.5% YoY (from 5.4%) despite a -0.4% MoM decline, underscoring volatility in fresh food prices.
- Energy prices fell -2.0% YoY and -0.7% MoM (vs flash estimate -1.9% YoY, -0.6% MoM), continuing to weigh on headline inflation.
Source
Euro area HICP inflation rose to 2.1% YoY (vs 2.0% YoY expected) in August 2025, up from 2.0% in July, while the monthly rate was +0.2% MoM, pointing to a slight pickup in price pressures.
- Core inflation (ex energy, food, alcohol & tobacco) was stable at 2.3% YoY, after a 0.3% MoM increase, though forecasts expected a slight slowdown to 2.2% YoY.
- Food, alcohol & tobacco inflation eased slightly to 3.2% YoY (from 3.3%) with no change on the month. Unprocessed food prices fell -0.4% MoM, offsetting a 0.2% MoM rise in processed food prices.
- Energy prices fell -0.6% MoM and -1.9% YoY (up from -2.4% YoY). This is the highest annual change since March.
- Services inflation moderated to 3.1% YoY (from 3.2%) after a +0.3% MoM rise, remaining the strongest driver of underlying inflation. However, the annual increase is at its lowest since March 2022.
- Non-energy industrial goods prices increased 0.8% YoY for the second straight month and were up +0.3% MoM.
Source
Euro area HICP inflation was confirmed at 2.0% YoY in July 2025, unchanged from June, while the monthly rate was flat at 0.0%, suggesting overall price pressures remained stable.
- Core inflation (all-items excluding energy) eased slightly to 2.5% YoY (from 2.5% in June) and -0.1% MoM, indicating modest softening in underlying inflation.
- Services inflation accelerated to 3.2% YoY and 1.1% MoM, making it the largest contributor to overall price pressures.
- Energy prices declined -2.4% YoY but rose 1.0% MoM, reflecting ongoing volatility in energy costs.
- Processed food, alcohol & tobacco rose 2.7% YoY and 0.3% MoM, while unprocessed food accelerated to 5.4% YoY despite a -0.2% MoM decline.
- Non-energy industrial goods were up 0.8% YoY, but fell -2.4% MoM, pointing to some easing in goods price pressures.
- Services remains the main contributor to inflation at 1.46 ppts in July, down from 1.51 ppts in June. The contributions from food and non-energy goods both ticked up, by 4 bps and 5 bps, respectively.
Source
Euro area HICP inflation was flat at 0.0% MoM in July and held steady at 2.0% YoY, in line with the ECB’s target but slightly below expectations of 1.9% YoY.
- Core inflation was -0.2% MoM and 2.3% YoY, unchanged from the previous reading of 2.3% YoY for the last three months.
- Services inflation accelerated to 3.1% YoY from 3.0% YoY, with a strong 1.0% MoM gain.
- Non-energy goods prices fell -2.4% MoM, but despite the sharp decline, the annual rate accelerated 0.3 ppts to 0.8% YoY.
- Food, alcohol & tobacco inflation accelerated to 3.3% YoY (from 3.1%) driven by processed food (+2.7% YoY) and alcohol/tobacco.
- Energy prices fell -2.5% YoY (vs -2.7% YoY in June) and dropped -0.2% MoM.
Source
Euro area HICP inflation in June was confirmed at 0.3% MoM and 2.0% YoY, up from 1.9% YoY in May.
- Core inflation was confirmed at 0.4% MoM and 2.3% YoY, unchanged from 2.3% YoY in the previous month.
- Food, alcohol & tobacco inflation was confirmed at 3.1% YoY and 0.1% MoM, up from 3.2% YoY.
- Energy inflation saw a slight upward revision from 0.1% MoM and -2.7% YoY in the flash estimate to 0.2% MoM and -2.6% YoY.
- Both non-energy goods and services inflation were confirmed at their flash estimates of 0.5% YoY and 3.3% YoY, respectively.
- The segments that contributed to a higher annual inflation rate were services and energy, adding 4 bps and 9 bps respectively.
Source
Euro area HICP inflation rose 0.3% MoM in June and accelerated to 2.0% YoY, 1.9% YoY in May in line with expectations.
- Core inflation was 0.4% MoM and 2.3% YoY, unchanged from 2.3% YoY in the previous month.
- Food, alcohol & tobacco inflation rose to 3.1% YoY from 3.2% YoY despite only a 0.1% MoM increase, with unprocessed food up 4.6% YoY.
- Energy inflation remained negative at -2.7% YoY but up from -3.6% YoY previously after an 0.1% MoM increase in June.
- Services inflation ticked up to 3.3% YoY from 3.2% YoY, with a strong 0.7% MoM gain.
- Non-energy industrial goods prices fell -0.2% MoM, keeping the annual increase low at 0.5% YoY, where it’s been for the past year.
Source
Euro area HICP inflation was confirmed at 0.0% MoM and slowed to 1.9% YoY in May, down from 2.2% YoY in April.
- Core inflation was also confirmed at 0.0% MoM and 2.3% YoY, down from 2.7% YoY and below expectations of a 2.5% YoY increase.
- Annual core inflation is the lowest since January 2022, and the monthly rate of 0.0% MoM is the lowest since May 2020.
- The disinflation in May came from the services component which contributed 1.47 ppts, down from 1.80 ppts in April. This is the smallest contribution from services since March 2022.
Source
Euro area HICP inflation was 0.0% MoM and slowed to 1.9% YoY in May, down from 2.2% YoY in April and below expectations of a 2.0% YoY increase.
- Core inflation was 0.0% MoM and 2.3% YoY, down from 2.7% YoY and below expectations of a 2.5% YoY increase.
- Annual core inflation is the lowest since January 2022, and the monthly rate of 0.0% MoM is the lowest since May 2020.
- Food inflation increased 0.5% MoM and 3.3% YoY, the highest since February 2024.
- Energy inflation was -3.6% YoY and -1.2% MoM, continuing to weigh on the headline figure.
- Services inflation cooled significantly, falling to 3.2% YoY in May from 4.0% in April and posted a -0.1% MoM decline. The annual rate is the lowest since March 2022.
- Non-energy industrial goods inflation remained steady at 0.6% YoY, up just 0.1% MoM.
Source