Inflation European Union 2024
Average inflation: 2.6%
Current Inflation
Inflation is normal at 2.6%, around the ECB target.
Peak and Trough
The highest inflation was in January at 3.1%. The lowest inflation was in September at 2.1%.
- Highest month
- January: 3.1%
- Lowest month
- September: 2.1%
- Difference
- 1.0 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 2.3%. The lowest price increase was in Food and non-alcoholic beverages with an average of 2.3%.
- Highest increase
- Food and non-alcoholic beverages: 2.3%
- Lowest increase
- Food and non-alcoholic beverages: 2.3%
Historical Context
Current inflation is 1.8% lower than the 5-year average of 4.4%.
- 5-year average
- 4.4%
- 10-year average
- 2.7%
- All-time high (2022)
- 9.2%
- All-time low (2015)
- 0.1%
Trend
Inflation shows a downward trend. Compared to 2023, inflation has fallen by +3.8 percentage point.
- Change vs. previous year
- -3.8 percentage points
- Largest monthly swing
- February: -7.1 percentage points
ECB Target
Inflation is 0.6% 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 €102.60 next year at this inflation rate.
Multi-year trend
Monthly figures 2024
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2023 |
|---|---|---|
| January | 3.1% | -6.9 |
| February | 2.8% | -7.1 |
| March | 2.6% | -5.7 |
| April | 2.6% | -5.5 |
| May | 2.7% | -4.4 |
| June | 2.6% | -3.8 |
| July | 2.8% | -3.3 |
| August | 2.4% | -3.5 |
| September | 2.1% | -2.8 |
| October | 2.3% | -1.3 |
| November | 2.5% | -0.6 |
| December | 2.7% | -0.7 |
| Average | 2.6% |
Data source
Data from OECD. Last updated: 17/12/2025.