Inflation European Union 2008
Average inflation: 3.7%
Current Inflation
Inflation is high at 3.7%, well above the ECB target.
Peak and Trough
The highest inflation was in July at 4.5%. The lowest inflation was in December at 2.0%.
- Highest month
- July: 4.5%
- Lowest month
- December: 2.0%
- Difference
- 2.5 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 6.2%. The lowest price increase was in Food and non-alcoholic beverages with an average of 6.2%.
- Highest increase
- Food and non-alcoholic beverages: 6.2%
- Lowest increase
- Food and non-alcoholic beverages: 6.2%
Historical Context
Current inflation is 1.1% higher than the 5-year average of 2.6%. This approaches the highest level since records began (4.0% in 2000).
- 5-year average
- 2.6%
- 10-year average
- 2.9%
- All-time high (2000)
- 4%
- All-time low (2006)
- 2.3%
Trend
Inflation shows an upward trend. Compared to 2007, inflation has risen by +1.3 percentage point.
- Change vs. previous year
- +1.3 percentage points
- Largest monthly swing
- July: +2.5 percentage points
ECB Target
Inflation is 1.7% 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 €103.70 next year at this inflation rate.
Multi-year trend
Monthly figures 2008
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2007 |
|---|---|---|
| January | 3.7% | +1.7 |
| February | 3.7% | +1.7 |
| March | 4.0% | +1.9 |
| April | 3.7% | +1.6 |
| May | 4.1% | +2.0 |
| June | 4.4% | +2.3 |
| July | 4.5% | +2.5 |
| August | 4.2% | +2.2 |
| September | 4.0% | +1.6 |
| October | 3.6% | +0.7 |
| November | 2.5% | -0.9 |
| December | 2.0% | -1.4 |
| Average | 3.7% |
Data source
Data from OECD. Last updated: 17/12/2025.