LUXEMBOURG , February 22, 2024 (press release) –
Down to 3.1% in the EU
Overview
The euro area annual inflation rate was 2.8% in January 2024, down from 2.9% in December. A year earlier, the rate was 8.6%. European Union annual inflation was 3.1% in January 2024, down from 3.4% in December. A year earlier, the rate was 10.0%. These figures are published by Eurostat, the statistical office of the European Union.
The lowest annual rates were registered in Denmark, Italy (both 0.9%), Latvia, Lithuania and Finland (all 1.1%). The highest annual rates were recorded in Romania (7.3%), Estonia (5.0%) and Croatia (4.8%). Compared with December, annual inflation fell in fifteen Member States, remained stable in one and rose in eleven.
In January, the highest contribution to the annual euro area inflation rate came from services (+1.73 percentage points, pp), followed by food, alcohol & tobacco (+1.13 pp), non-energy industrial goods (+0.53 pp) and energy (-0.62 pp).
|
|
Annual rate |
Monthly rate |
||||||
|---|---|---|---|---|---|---|---|---|
|
|
Jan 23 |
Aug 23 |
Sep 23 |
Oct 23 |
Nov 23 |
Dec 23 |
Jan 24 |
Jan 24 |
| Euro area |
8.6 |
5.2 |
4.3 |
2.9 |
2.4 |
2.9 |
2.8 |
-0.4 |
| EU |
10.0 |
5.9 |
4.9 |
3.6 |
3.1 |
3.4 |
3.1 |
-0.2 |
| Belgium |
7.4 |
2.4 |
0.7 |
-1.7 |
-0.8 |
0.5 |
1.5 |
-0.7 |
| Bulgaria |
14.3 |
7.5 |
6.4 |
5.9 |
5.5 |
5.0 |
4.0p |
0.2p |
| Czechia |
19.1 |
10.1 |
8.3 |
9.5 |
8.0 |
7.6 |
2.7 |
1.8 |
| Denmark |
8.4 |
2.3 |
0.6 |
-0.4 |
0.3 |
0.4 |
0.9 |
1.0 |
| Germany |
9.2 |
6.4 |
4.3 |
3.0 |
2.3 |
3.8 |
3.1 |
-0.2 |
| Estonia |
18.6 |
4.3 |
3.9 |
5.0 |
4.1 |
4.3 |
5.0 |
1.3 |
| Ireland |
7.5 |
4.9 |
5.0 |
3.6 |
2.5 |
3.2 |
2.7 |
-1.4 |
| Greece |
7.3 |
3.5 |
2.4 |
3.8 |
2.9 |
3.7 |
3.2 |
-0.9 |
| Spain |
5.9 |
2.4 |
3.3 |
3.5 |
3.3 |
3.3 |
3.5 |
-0.2 |
| France |
7.0 |
5.7 |
5.7 |
4.5 |
3.9 |
4.1 |
3.4 |
-0.2 |
| Croatia |
12.5 |
8.4 |
7.4 |
6.7 |
5.5 |
5.4 |
4.8 |
-0.3 |
| Italy |
10.7 |
5.5 |
5.6 |
1.8 |
0.6 |
0.5 |
0.9 |
-1.1 |
| Cyprus |
6.8 |
3.1 |
4.3 |
3.6 |
2.4 |
1.9 |
2.1 |
-1.2 |
| Latvia |
21.4 |
5.6 |
3.6 |
2.3 |
1.1 |
0.9 |
1.1 |
0.8 |
| Lithuania |
18.5 |
6.4 |
4.1 |
3.1 |
2.3 |
1.6 |
1.1 |
0.1 |
| Luxembourg |
5.8 |
3.5 |
3.4 |
2.1 |
2.1 |
3.2 |
3.0 |
-0.4 |
| Hungary |
26.2 |
14.2 |
12.2 |
9.6 |
7.7 |
5.5 |
3.7 |
0.7 |
| Malta |
6.8 |
5.0 |
4.9 |
4.2 |
3.9 |
3.7 |
3.7 |
-0.4 |
| Netherlands |
8.4 |
3.4 |
-0.3 |
-1.0 |
1.4 |
1.0 |
3.1p |
0.2p |
| Austria |
11.6 |
7.5 |
5.8 |
4.9 |
4.9 |
5.7 |
4.3 |
-0.4 |
| Poland |
15.9 |
9.5 |
7.7 |
6.3 |
6.3 |
6.2 |
4.5p |
0.3p |
| Portugal |
8.6 |
5.3 |
4.8 |
3.2 |
2.2 |
1.9 |
2.5 |
-0.2 |
| Romania |
13.4 |
9.3 |
9.2 |
8.3 |
6.9 |
7.0 |
7.3 |
1.1 |
| Slovenia |
9.9 |
6.1 |
7.1 |
6.6 |
4.5 |
3.8 |
3.4 |
-0.6 |
| Slovakia |
15.1 |
9.6 |
9.0 |
7.8 |
6.9 |
6.6 |
4.4 |
0.8 |
| Finland |
7.9 |
3.1 |
3.0 |
2.4 |
0.7 |
1.3 |
1.1 |
0.3 |
| Sweden |
9.6 |
4.5 |
3.7 |
4.0 |
3.3 |
1.9 |
3.4 |
-0.3 |
| Iceland |
8.1 |
8.3 |
8.5 |
7.6 |
7.4 |
6.9 |
5.6 |
-0.2 |
| Norway |
8.0 |
4.9 |
2.8 |
3.7 |
4.5 |
4.7 |
4.6 |
-0.1 |
| Switzerland |
3.2 |
1.9 |
2.0 |
2.0 |
1.6 |
2.1 |
1.5 |
0.1 |
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