Inflation European Union 2004
Average inflation: 2.5%
Current Inflation
Inflation is normal at 2.5%, around the ECB target.
Peak and Trough
The highest inflation was in May at 2.8%. The lowest inflation was in February at 2.0%.
- Highest month
- May: 2.8%
- Lowest month
- February: 2.0%
- Difference
- 0.8 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food and non-alcoholic beverages with an average of 1.9%. The lowest price increase was in Food and non-alcoholic beverages with an average of 1.9%.
- Highest increase
- Food and non-alcoholic beverages: 1.9%
- Lowest increase
- Food and non-alcoholic beverages: 1.9%
Historical Context
Current inflation is 0.5% lower than the 5-year average of 3.0%. This approaches the lowest level since records began (2.3% in 2003).
- 5-year average
- 3%
- 10-year average
- 3%
- All-time high (2000)
- 4%
- All-time low (2003)
- 2.3%
Trend
Inflation has remained relatively stable. Compared to 2003, the difference is minimal (+0.2 percentage point).
- Change vs. previous year
- +0.2 percentage points
- Largest monthly swing
- May: +0.8 percentage points
ECB Target
Inflation is 0.5% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €102.50 next year at this inflation rate.
Multi-year trend
Monthly figures 2004
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2003 |
|---|---|---|
| January | 2.1% | -0.2 |
| February | 2.0% | -0.5 |
| March | 2.0% | -0.5 |
| April | 2.3% | +0.1 |
| May | 2.8% | +0.8 |
| June | 2.7% | +0.5 |
| July | 2.7% | +0.6 |
| August | 2.7% | +0.5 |
| September | 2.5% | +0.2 |
| October | 2.7% | +0.4 |
| November | 2.5% | +0.1 |
| December | 2.6% | +0.4 |
| Average | 2.5% |
Data source
Data from OECD. Last updated: 17/12/2025.