Euro Area HICP Inflation

Data Prices

Source: Eurostat
Source Link: https://ec.europa.eu/
Frequency: Monthly
Next Release(s): February 4th, 2026 5:00 AM

Latest Updates

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Euro area HICP inflation rose +0.2% MoM in December 2025 (down from 0.4% MoM in December 2024) and eased to 2.0% YoY (from 2.1% in November), pointing to modest month-end price firming amid softer annual momentum.
- Core inflation increased +0.3% MoM and eased slightly to 2.3% YoY (vs 2.4% YoY expected), down from 2.4% YoY in November, indicating a mild cooling in underlying price pressures.
- Services inflation decelerated to 3.4% YoY (Nov: 3.5%) and rose +0.7% MoM, remaining the strongest component and a key source of persistence in overall inflation.
- Energy prices fell -0.8% MoM and declined -1.9% YoY (Nov: -0.5% YoY), deepening the annual contraction and continuing to weigh on the headline rate.
- Food, alcohol and tobacco inflation edged up to 2.6% YoY (Nov: 2.4%) with a +0.1% MoM increase, reflecting firmer food price dynamics late in the year.
- Unprocessed food inflation rose sharply to 4.2% YoY (Nov: 3.2%) and increased +0.8% MoM, standing out as a key upside contributor among goods.
- Processed food inflation eased to 2.1% YoY (Nov: 2.2%) and fell -0.2% MoM, showing continued moderation in this category.
- Non-energy industrial goods prices declined -0.3% MoM and slowed to 0.4% YoY (Nov: 0.5%), remaining a subdued component of overall inflation.
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Euro area HICP inflation ticked up 0.1 ppts to 2.2% YoY (vs 2.1% YoY expected) in November 2025, despite a -0.3% MoM decline, as sticky services inflation keeps the headline rate mostly stable.
- Core inflation (excluding energy, food, alcohol & tobacco) was unchanged at 2.4% YoY for the 3rd straight month, down -0.4% MoM.
- Food prices increased 0.2% MoM, and the annual rate was unchanged at 2.5% YoY. Processed food inflation was unchanged at 2.3% YoY, and unprocessed food inflation ticked up 0.1 ppts to 3.3% YoY.
- Energy prices increased 0.9% MoM, but the annual rate remained negative at -0.5% YoY.
- Core goods prices fell -0.1% MoM, and the annual rate remained at 0.6% YoY, the same reading as a year ago.
- Services prices fell -0.8% MoM, but the annual rate ticked up 0.1 ppts to 3.5% YoY, the highest since March 2025.
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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.
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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.
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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.
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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.
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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.
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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.
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