LUXEMBOURG , March 18, 2024 (press release) –
Down to 2.8% in the EU
Overview
The euro area annual inflation rate was 2.6% in February 2024, down from 2.8% in January. A year earlier, the rate was 8.5%. European Union annual inflation was 2.8% in February 2024, down from 3.1% in January. A year earlier, the rate was 9.9%. These figures are published by Eurostat, the statistical office of the European Union.
The lowest annual rates were registered in Latvia, Denmark (both 0.6%) and Italy (0.8%). The highest annual rates were recorded in Romania (7.1%), Croatia (4.8%) and Estonia (4.4%). Compared with January, annual inflation fell in twenty Member States, remained stable in five and rose in two.
In February, the highest contribution to the annual euro area inflation rate came from services (+1.73 percentage points, pp), followed by food, alcohol & tobacco (+0.79 pp), non-energy industrial goods (+0.42 pp) and energy (-0.36 pp).
Inflation rates (%) measured by the HICP
| Annual rate |
Monthly rate | |||||||
|---|---|---|---|---|---|---|---|---|
|
|
Feb 23 |
Sep 23 |
Oct 23 |
Nov 23 |
Dec 23 |
Jan 24 |
Feb 24 |
Feb 24 |
| Euro area |
8.5 |
4.3 |
2.9 |
2.4 |
2.9 |
2.8 |
2.6 |
0.6 |
| EU |
9.9 |
4.9 |
3.6 |
3.1 |
3.4 |
3.1 |
2.8 |
0.6 |
| Belgium |
5.4 |
0.7 |
-1.7 |
-0.8 |
0.5 |
1.5 |
3.6 |
2.4 |
| Bulgaria |
13.7 |
6.4 |
5.9 |
5.5 |
5.0 |
3.9 |
3.5 |
0.3 |
| Czechia |
18.4 |
8.3 |
9.5 |
8.0 |
7.6 |
2.7 |
2.2 |
0.3 |
| Denmark |
8.3 |
0.6 |
-0.4 |
0.3 |
0.4 |
0.9 |
0.6 |
0.4 |
| Germany |
9.3 |
4.3 |
3.0 |
2.3 |
3.8 |
3.1 |
2.7 |
0.6 |
| Estonia |
17.8 |
3.9 |
5.0 |
4.1 |
4.3 |
5.0 |
4.4 |
0.1 |
| Ireland |
8.1 |
5.0 |
3.6 |
2.5 |
3.2 |
2.7 |
2.3 |
1.1 |
| Greece |
6.5 |
2.4 |
3.8 |
2.9 |
3.7 |
3.2 |
3.1 |
0.1 |
| Spain |
6.0 |
3.3 |
3.5 |
3.3 |
3.3 |
3.5 |
2.9 |
0.4 |
| France |
7.3 |
5.7 |
4.5 |
3.9 |
4.1 |
3.4 |
3.2 |
0.9 |
| Croatia |
11.7 |
7.4 |
6.7 |
5.5 |
5.4 |
4.8 |
4.8 |
0.3 |
| Italy |
9.8 |
5.6 |
1.8 |
0.6 |
0.5 |
0.9 |
0.8 |
0.0 |
| Cyprus |
6.7 |
4.3 |
3.6 |
2.4 |
1.9 |
2.1 |
2.1 |
0.8 |
| Latvia |
20.1 |
3.6 |
2.3 |
1.1 |
0.9 |
1.1 |
0.6 |
0.1 |
| Lithuania |
17.2 |
4.1 |
3.1 |
2.3 |
1.6 |
1.1 |
1.1 |
0.7 |
| Luxembourg |
4.8 |
3.4 |
2.1 |
2.1 |
3.2 |
3.0 |
3.2 |
1.7 |
| Hungary |
25.8 |
12.2 |
9.6 |
7.7 |
5.5 |
3.7 |
3.6 |
0.7 |
| Malta |
7.0 |
4.9 |
4.2 |
3.9 |
3.7 |
3.7 |
3.0 |
0.2 |
| Netherlands |
8.9 |
-0.3 |
-1.0 |
1.4 |
1.0 |
3.1 |
2.7 |
0.9 |
| Austria |
11.0 |
5.8 |
4.9 |
4.9 |
5.7 |
4.3 |
4.2 |
0.7 |
| Poland |
17.2 |
7.7 |
6.3 |
6.3 |
6.2 |
4.5 |
3.7 |
0.3 |
| Portugal |
8.6 |
4.8 |
3.2 |
2.2 |
1.9 |
2.5 |
2.3 |
0.2 |
| Romania |
13.4 |
9.2 |
8.3 |
6.9 |
7.0 |
7.3 |
7.1 |
0.8 |
| Slovenia |
9.4 |
7.1 |
6.6 |
4.5 |
3.8 |
3.4 |
3.4 |
0.6 |
| Slovakia |
15.4 |
9.0 |
7.8 |
6.9 |
6.6 |
4.4 |
3.8 |
0.6 |
| Finland |
8.0 |
3.0 |
2.4 |
0.7 |
1.3 |
1.1 |
1.1 |
0.7 |
| Sweden |
9.7 |
3.7 |
4.0 |
3.3 |
1.9 |
3.4 |
2.6 |
0.2 |
| Iceland |
8.8 |
8.5 |
7.6 |
7.4 |
6.9 |
5.6 |
5.3 |
1.4 |
| Norway |
7.2 |
2.8 |
3.7 |
4.5 |
4.7 |
4.6 |
4.4 |
0.2 |
| Switzerland |
3.2 |
2.0 |
2.0 |
1.6 |
2.1 |
1.5 |
1.2 |
0.2 |
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