Inflation Rate in European Union averaged 2.15 percent from 2000 until 2022, reaching an all time high of 10.90 percent in September of 2022 and a record low of -0.60 percent in January of 2015. Got a confidential news tip? data than referenced in the text. We want to hear from you. Are you interested in testing our corporate solutions? Monthly inflation rate in the European Union was 0.32% in December 2020. New, Insights into the worlds most important health markets, Figures and insights about the advertising and media world, Everything you need to know about the industry development. Preliminary data on Monday from Europe's statistics office showed headline inflation came in at an annual 10.7% this month. The European Central Bank whose primary target is to control inflation on Thursday confirmed further rate hikes in the coming months in an attempt to bring prices down. Inflation rate in Europe reached its highest level in 25 years last December at 5% in light of the rise in energy prices, "but a decline in inflation is expected in 2022.". A Division of NBCUniversal. Euro zone headline inflation hit a new historic high of 10.7% last month, according to preliminary data. Inflation data makes grim reading this morning. Only Belgium, Latvia and Austria registered GDP rates below zero. This page provides the latest reported value for - Euro Area Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term . Global Business and Financial News, Stock Quotes, and Market Data and Analysis. The 19-member bloc has faced higher prices, particularly on energy and food, for the past 12 months. Quick Analysis with our professional Research Service: Toplists & Rankings: Best Employers Portal. Sign up for free newsletters and get more CNBC delivered to your inbox. In September, the rate . Earlier this week, Ukraine President Volodymyr Zelenskyy outlined five conditions for peace negotiations with Russia. "Inflation surged again in October andare a proper Halloween nightmare for the ECB," analysts at Pantheon Macroeconomics, said in an email. A Division of NBCUniversal. For additional years, see the historical inflation rates. Earlier this month, ECB President Christine Lagarde said that her team needed to keep increasing rates despite the economic slowdown. This means that 100 euro in 1991 are equivalent to 175.21 euro in 2021. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. But the increases have been accentuated by Russia's invasion of Ukraine in late February. The 5-year and 10-year columns display the rolling average of the yearly inflation. Figures came higher than market forecasts of 10.2% . All important statistics are prepared by our experts available for direct download as PPT & PDF! Please do not hesitate to contact me. Get in touch with us. Inflation Rate Forecast 2022/2023 - was last updated on Friday, November 11, 2022. Data published Monthly by Eurostat. Statista assumes no Monday's data comes after individual countries reported flash estimates last week. The inflation rate in the Eurozone between 1991 and 2021 was 75.21%, which translates into a total increase of 75.21. Directly accessible data for 170 industries from 50 countries We have a plan for your needs. liability for the information given being complete or correct. U.S. officials have reportedly urged Ukraine to show it is open to a diplomatic resolution regarding the conflict. Data is a real-time snapshot *Data is delayed at least 15 minutes. Stateside, the consumer price index rose less than expected in October, according to data released Thursday. But one ECB member believes that price growth could be about to come down. "The fact that the U.S. and Germany are mentioning the word 'peace,' not that it is happening tomorrow, but the fact that investors hear that word it's a positive event in itself," the senior ECB official said, referring to the Russia-Ukraine war, which could be a possible reason for price rises to cool. There are, however, euro nations where inflation rose by more than 20%. All Rights Reserved. Correction: Preliminary data from Europe's statistics office showed headline euro zone inflation came in at an annual 10.7% this month. By Liz Alderman. Low-income households face significantly higher effective inflation rates than high-income households . Inflation Rate - Europe - By Country - was last updated on Monday, November 14, 2022. The 'Inflation %' column indicates how much prices have changed since the previous year. Prices across the 19 countries that use the euro increased at an annual rate . "We will have further rate increases in the future," Lagarde said in an interview with a Latvian news outlet Delfi. The ECB decided to raise rates by 75 basis points for a second consecutive time last week. The ECB's mandate is to work toward a headline inflation of 2%. That is 0.60 more than it was in November 2020 and 0.05 more than in December 2019. Markets are expecting an increase of 0.5% for December. This represents the highest ever monthly reading since the euro zone's formation. Speaking at a subsequent news conference, ECB President Christine Lagarde said the likelihood of a recession in the euro zone had intensified. The table has current values for Inflation Rate, previous releases, historical highs and record lows, release frequency, reported unit and currency plus links to . Euro zone inflation hit a new record high of 10% in September, Eurostat data showed on Friday, up from 9.1% in August and above consensus projections of 9.7%. Inflation Rate Forecast 2022/2023 - was last updated on Monday, November 14, 2022. The European Central Bank is publishing new economic forecasts in mid-December when it gathers for another rate decision. This page provides the latest reported value for - European Union Inflation Rate - plus . The euro had an average inflation rate of 9.90% in the last 12 months. The inflation rate is still far from the European Central Bank's target of 2%. White label accounts can distribute our data. Inflation measured by consumer price index (CPI) is defined as the change in the prices of a basket of goods and services that are typically purchased by specific groups of households. European Union inflation rate for 2020 was 0.50%, a 1.13% decline from 2019. Get this delivered to your inbox, and more info about our products and services. Due to varying update cycles, statistics can display more up-to-date What is Inflation Rate in European Union? Protestors in Italy used empty shopping trolleys to demonstrate the cost-of-living crisis. on the first row indicates that between 2016 and 2021, the average inflation rate was 1.46%. Soaring costs with energy have been the main driver of higher inflation across the euro zone. "As of today, I don't see a repeat of the previous rate hike," Scicluna said, suggesting that market expectations are currently in line with some of the thinking inside the euro zone's central bank. In 2020, the inflation rate in the EU was about 0.68 percent compared to the previous year. Back in September, the central bank forecast an annual inflation rate of 8.1% this year and of 5.5% for 2023. The US dollar has fallen to a 3-month low after easing inflation in October dampened expectations for more big rate hikes. All pages in this section. API users can feed a custom application. Published by D. Clark , Oct 19, 2022. The euro zone has been battling against surging inflation for about a year, with Russia's invasion of Ukraine accentuating those inflationary pressures. European Union inflation rate for 2019 was 1.63%, a 0.11% decline from 2018. Inflation is defined as the year on year percentage change in the euro area all items Harmonised Index of Consumer Prices (HICP), as published by Eurostat . Find comparable and always up-to-date data for inflation across the entire euro area with interactive visuals and comprehensive explanations on inflation. This page displays a table with actual values, consensus figures, forecasts, statistics and historical data charts for - Inflation Rate. We have a plan for your needs. Consumer prices in the 19 countries that use the euro as their currency rose at a record annual rate of 10.7 percent in October, the European Commission reported on Monday. White label accounts can distribute our data. Consumer price growth accelerated to 11.1%, more than expected and the highest in 41 years. Standard users can export data in a easy to use web interface or using an excel add-in. Dominican Republic Inflation Lowest Since November 2021, Kyrgyzstan Inflation Rate Slows in October, Mongolia Inflation Rate Quickens in October, Nigeria Inflation Rate Highest since 2005, Bulgaria Inflation Rate Eases to 17.6% in October, Botswana Inflation Rate Slows for 2nd Month, Polish Inflation Rate Confirmed at 26-Year High, Russian Stocks Ease as Geopolitical Tensions Highten, UK Core Producer Prices Rise at Softer Pace, China Stocks Drop as Geopolitical Risks Weigh, Turkish Stocks Extend All-Time High for 3rd Session. In 2022 the inflation rate in all five of Europe's largest economies increased following the a surge in energy and food prices in that year, with the UK . This represents the highest ever monthly reading since the euro zone's formation. We are happy to help. The ongoing Eurozone crisis, which . We want to hear from you. Prior to late 2021, the inflation rate in the EU was highest in July 2008, when it was 4.4 percent and . Stefano Montesi - Corbis | Corbis News | Getty Images, ECB hike: I don't see a 'radical, dovish shift,' says portfolio manager. Preliminary data on Monday from Europe's statistics office showed headline inflation came in at an annual 10.7% this month. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. It said in a statement that it had made "substantial progress" in normalizing rates in the region, but it "expects to raise interest rates further, to ensure the timely return of inflation to its 2% medium-term inflation target.". European Union Inflation Rate is at 10.90%, compared to 10.10% last month and 3.60% last year. Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. Growth figures released Monday showed a GDP (gross domestic product) figure of 0.2% for the euro area in the third quarter. As of September 2022, the inflation rate in the European Union was 10.9 percent, with prices rising fastest in Estonia, which had an . Growth data showed a GDP figure of 0.2% for the euro area in the third quarter. Inflation in the euro zone remains extremely high. Basic Info. Annual inflation rate in the Euro Area continued to break record high levels and jumped to 10.7% in October of 2022 from 9.9% in September. But the increases have been accentuated by Russia's invasion of Ukraine in late February. Any end to the conflict, which began when Russia invaded on Feb. 24, would help with food supplies and prices, for example. Andrew Kenningham, chief Europe economist at Capital Economics, said "the increase in euro zone GDP in the third quarter does not alter our view that the euro zone is on the cusp of a recession.". Inflation in the euro zone remains well-above the ECB's target, as energy and food prices soar. . Inflation rate of the European Union 2002-2022, by category, Inflation rate for housing and energy in the EU 1997-2022, Inflation rate for clothing and footwear in the EU 1997-2022, Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022, Inflation rate of the European Union 1997-2022, Inflation rate of the EU-27 in September 2022, by country, Inflation rate of the European Union in 2022, by sector, Inflation rate of average consumer prices in largest economies in Europe 1980-2022, Percentage of people who see inflation as an important issue EU 2016-2021, Percentage of people who see inflation as an important issue EU 2021, by country, Monthly inflation rate in France February 2022, Monthly inflation rate in Germany 2021-2022, Monthly consumer price index in Italy 2020-2021, Inflation rate in Spain 2017-2022, y-o-y by month, CPI inflation rate in the Netherlands, per month 1963-2022, Monthly rate of inflation in Belgium 2018-2022, Monthly consumer price index in Poland 2018-2022, Monthly inflation rate in Russia 2021-2022, Inflation rate for food and non-alcoholic beverages in the EU 1997-2022, Inflation rate for alcoholic beverages, tobacco and narcotics in the EU 1997-2022, Inflation rate for furnishings and household equipment in the EU 1997-2022, Inflation rate for health in the EU 1997-2022, Inflation rate for transport in the EU 1997-2022, Inflation rate for communications in the EU 1997-2022, Inflation rate for recreation and culture in the EU 1997-2022, Inflation rate for education in the EU 1997-2022, Inflation rate for restaurants and hotels in the EU 1997-2022, Inflation rate for personal care in the EU 1997-2022, Countries with the highest inflation rate 2021, Countries with the lowest inflation rate 2021, Monthly inflation rate in China October 2022, Inflation rate APAC 2021-2022, by country, Countries with the highest inflation rate in Africa 2022. Food, alcohol and tobacco prices also climbed in the same period, jumping 13.1% from 11.8% in the previous month. To calculate cumulative rates between two different periods, you can use the Eurozone Inflation Calculator. Several economists predict there will be a contraction in GDP during the current quarter. Back in September, the central bank forecast an annual inflation rate of 8 . On average, you would have to spend 9.90% more money in 2022 than in 2021 for the same item. UK inflation rate accelerates to 11.1% in October, driven by food and energy prices. In Italy, headline inflation came in above analysts' expectations at 12.8% year on year. In other words, the purchasing power of 100 in 1991 equals 175.21 in 2021. This text provides general information. This represents the highest ever monthly reading since the euro zone's . Got a confidential news tip? Nov. 16, 2022, 2:26 a.m. facts. November 16, 2022, 2:10 AM. API users can feed a custom application. Our main task is to maintain price stability in the euro area and so preserve the purchasing power of the single currency. Given the historic levels of inflation, the ECB has announced three rate hikes this year, bringing the main rate from negative territory to 1.5% currently. LONDON -- Britain's inflation rate rose to a 41-year high in October, fueling demands for the government to do more to ease the nation's cost-of-living crisis when . Sign up for free newsletters and get more CNBC delivered to your inbox. 2022 CNBC LLC. Get this delivered to your inbox, and more info about our products and services. ECB still needs a couple of significant rate moves: Estonia central bank governor, headline inflation hitting a historic high of 10.7%. The different values reflect measures taken by national governments, as well as the level of dependency that their nations have, or had, on Russian hydrocarbons. Inflation forecast is measured in terms of the consumer price index (CPI) or harmonised index of consumer prices (HICP) for euro area countries, the euro area aggregate and the United Kingdom. Data is a real-time snapshot *Data is delayed at least 15 minutes. European inflation has accelerated to a new record high as energy and food prices in the region continue to skyrocket. Clicking on the following button will update the content below. The euro traded below parity against the U.S. dollar in early European trading hours Monday and ahead of the data releases, and barely moved after the new figures. Advanced users can use our Python/R/Matlab packages. In addition, energy prices over the last few months have remained somewhat stable and far from their historic highs seen in August. All Rights Reserved. The inflation rate is also used in assessing whether a country is ready to join the euro area. Purchasing power decreased by 9.90% in 2022 compared to 2021. So far, the 19-member bloc has dodged a recession but an economic slowdown is evident. Peak inflation "is almost within reach," Edward Scicluna, who's also the Governor of the Bank of Malta, told CNBC exclusively. Trading Economics welcomes candidates from around the world. The average annual inflation rate between these periods was 1.89%. Inflation and consumer price indexes in France. The European Central Bank is publishing new economic forecasts in mid-December when it gathers for another rate decision. Market players have priced in another rate increase for December. Inflation Rate in Euro Area averaged 2.10 percent from 1991 until 2022, reaching an all time high of 10.70 percent in October of 2022 and a record low of -0.60 percent in July of 2009. In the following 4 chapters, you will quickly find the 38 most important statistics relating to "Inflation in Europe". Data services . As a result, the real value of a euro has been decreasing recently. Inflation is measured in terms of the annual growth rate and in index, 2015 base year with a breakdown for food, energy and total excluding food and energy. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Insights into the world's most important technology markets, Health Market Outlook This page provides values for Inflation Rate reported in several countries part of Europe. Britain's cost-of-living crisis deepened in October, as consumer prices surged 11.1 percent from a year earlier, the highest in more than 40 years . Euro zone banks may see a surge in soured loans as rapid inflation and rising interest rates hit household incomes, particularly among the bloc's poorest, the European Central Bank said in a fresh . European Union inflation rate for 2021 was 2.55%, a 2.06% increase from 2020. This is after the region grew at a rate of 0.8% in the second quarter. The latest print suggests that although inflation is still high, it has perhaps started to cool. An earlier version misstated the period. Standard users can export data in a easy to use web interface or using an excel add-in. Annual inflation across the 19 countries that use the euro, including Europe's largest economies Germany, France, Italy and Spain, hit 4.9% in November, driven mainly by soaring energy. This includes Estonia, Latvia and Lithuania. ET. Inflation rate of the EU-27 in September 2022, by country. The most important key figures provide you with a compact summary of the topic of "Inflation in Europe" and take you straight to the corresponding statistics. Preliminary data on Monday from Europe's statistics office showed headline inflation came in at an annual 10.7% this month. European Union Inflation Rate 10.90% for Sep 2022 Overview; Interactive Chart; Level Chart. The European Central Bank (ECB) is the central bank of the 19 European Union countries which have adopted the euro. Inflation Rate Forecast 2022/2023 World Europe America Asia Africa Australia G20 Trading Economics provides data for 20 million economic indicators from 196 countries including actual values, consensus figures, forecasts, historical time series and news. The Governing Council raised rates by 75 basis points in both September and October, with markets expecting an increase of 0.5% for December. DXY was losing stream Tuesday. These numbers have, however, moved rapidly higher with headline inflation hitting a historic high of 10.7% last month. Published by D. Clark , Jun 22, 2022. The inflation rate of the European Union reached a record high of 7.8 percent in March 2022. In depth view into European Union Inflation Rate including historical data from 1997, charts and stats. The current inflation rate in the Eurozone is 9.90%, which is calculated based on CPI (Consumer Price Index) values for the last 12 months ending in September 2022. However, the European Central Bank considers that the rise to 5% is temporary, and is . The figures pile pressure on the Bank of England to . Mean point estimates (all survey rounds) Inflation measures the general evolution of prices. The Associated Press. Euro zone inflation rose above the 10% level in the month of October, highlighting the severity of the cost-of-living crisis in the region and adding more pressure on the European Central Bank. "But with inflation having jumped to well over 10%, the ECB will prioritise price stability and press on with rate hikes regardless," he added. Historical inflation rates from 1997 to 2022 for Euro area. Find your information in our database containing over 20,000 reports, Find a brief overview of all Outlooks here, Tools and Tutorials explained in our Media Centre. He cautioned, however, that there are a lot of uncertainties and that the central bank remains data dependent. Advanced users can use our Python/R/Matlab packages. and over 1Mio. Current job openings: European Union GDP Annual Growth Rate at 2.40 percent, European Union Industrial Production MoM at 0.90 percent, European Union Manufacturing Production at 6.60 percent, European Union Mining Production at 1.00 percent, European Union Industrial Production at 5.70 percent, European Union Natural Gas Imports From Russia at 132008.00 Terajoule, European Union Retail Sales MoM at 0.40 percent, European Union Retail Sales YoY at -0.30 percent, European Union Youth Unemployment Rate at 14.60 percent, Russian Stocks Ease as Geopolitical Tensions Highten, UK Core Producer Prices Rise at Softer Pace, China Stocks Drop as Geopolitical Risks Weigh, Turkish Stocks Extend All-Time High for 3rd Session. The Governing Council raised rates by 75 basis points both in September and October. Before . At the same time, 2020 year to date inflation rate is 0.25% and year over year inflation rate is 0.25%. An earlier version misstated the timing. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. Inflation Rate in European Union increased to 10.90 percent in September from 10.10 percent in August of 2022. Peak inflation "is almost within reach" in the euro zone, a European Central Bank Governing Council member told CNBC Thursday. The Trading Economics Application Programming Interface (API) provides direct access to our data. Inflation insights. . Inflation dashboard. Salomon Fiedler, an economist at Berenberg, said the "continuing surge in consumer prices and still-resilient domestic demand in the summer indicate a risk that the European Central Bank may hike rates by 75 basis points in December, rather than the 50 basis points we currently expect.". The Laspeyres formula is generally used. Inflation Rate in European Union increased by 10.9 % in September 2022 over the same month in the previous year. In 2020 EU ranks #4 in the world by yearly inflation rate. The 19-member bloc has faced higher prices, particularly on energy and food, for the past 12 months. The maximum level was 4.5 % and minimum was -0.6 %. July 2022 +0.5 point July 2022 +0.5 point Source: European Central Bank By The New York Times By Eshe Nelson July 21, 2022 FRANKFURT As consumer prices across Europe soar at the fastest. The inflation rate in the European Union reached 10.9 percent in September 2022, the highest rate of inflation recorded in the provided time period. This proved to be the case once again, with energy costs expected to have had the highest annual rise in October, at 41.9% from 40.7% in September. The economic situation in the European Union and the euro area. November 15, 2022, 11:14 PM. The euro has been weaker against the greenback and that's also something the ECB has been concerned about with worries that this will push up inflation in the euro zone even further. Read more. The inflation rate for all items in the European Union was 10.9 percent in September 2022, driven by rising prices in the housing and energy sector which had an annual inflation rate of 22.3 . Germany also said inflation jumped to 11.6% and in France the number reached 7.1%. The US Dollar Index dropped to a three . For example, the 5-year avg. 2022 CNBC LLC. In September 2021, headline inflation in the euro area stood at 3.4%, which represented a 13-year high.

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