Inflation G20 2024
Average inflation: 6.4%
Current Inflation
Inflation is very high at 6.4%, far above the ECB target.
Peak and Trough
The highest inflation was in February at 7.1%. The lowest inflation was in December at 4.9%.
- Highest month
- February: 7.1%
- Lowest month
- December: 4.9%
- Difference
- 2.2 percentage points
- Months with data
- 12 of 12
Historical Context
Current inflation is 0.7% higher than the 5-year average of 5.7%.
- 5-year average
- 5.7%
- 10-year average
- 4.2%
- All-time high (2022)
- 8.5%
- All-time low (2009)
- 2%
Trend
Inflation shows a downward trend. Compared to 2023, inflation has fallen by +0.2 percentage point.
- Change vs. previous year
- -0.2 percentage points
- Largest monthly swing
- December: -1.9 percentage points
ECB Target
Inflation is 4.4% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for 100 this year will cost approximately 106.40 next year at this inflation rate.
Multi-year trend
Monthly figures 2024
Month overview
| Month | Inflation | Difference vs. 2023 |
|---|---|---|
| January | 6.7% | -1.7 |
| February | 7.1% | -0.9 |
| March | 7.0% | +0.1 |
| April | 7.0% | +0.5 |
| May | 7.1% | +1.2 |
| June | 6.9% | +1.3 |
| July | 6.6% | +0.7 |
| August | 6.1% | -0.4 |
| September | 5.9% | -0.4 |
| October | 5.8% | -0.1 |
| November | 5.6% | -0.4 |
| December | 4.9% | -1.9 |
| Average | 6.4% |
Data source
Data from OECD. Last updated: 04/08/2026.