Overview
The euro area annual inflation rate was 2.4% in March 2024, down from 2.6% in February. A year earlier, the rate was 6.9%. European Union annual inflation was 2.6% in March 2024, down from 2.8% in February. A year earlier, the rate was 8.3%. These figures are published by Eurostat, the statistical office of the European Union.
The lowest annual rates were registered in Lithuania (0.4%), Finland (0.6%) and Denmark (0.8%). The highest annual rates were recorded in Romania (6.7%), Croatia (4.9%), Estonia and Austria (both 4.1%). Compared with February, annual inflation fell in thirteen Member States, remained stable in four and rose in ten.
In March, the highest contribution to the annual euro area inflation rate came from services (+1.76 percentage points, pp), followed by food, alcohol & tobacco (+0.53 pp), non-energy industrial goods (+0.30 pp) and energy (-0.16 pp).
Annual rate | Monthly rate | |||||||
|---|---|---|---|---|---|---|---|---|
Mar 23 | Oct 23 | Nov 23 | Dec 23 | Jan 24 | Feb 24 | Mar 24 | Mar 24 | |
Euro area | 6.9 | 2.9 | 2.4 | 2.9 | 2.8 | 2.6 | 2.4 | 0.8 |
EU | 8.3 | 3.6 | 3.1 | 3.4 | 3.1 | 2.8 | 2.6 | 0.7 |
Belgium | 4.9 | -1.7 | -0.8 | 0.5 | 1.5 | 3.6 | 3.8 | 0.4 |
Bulgaria | 12.1 | 5.9 | 5.5 | 5.0 | 3.9 | 3.5 | 3.1 | 0.2 |
Czechia | 16.5 | 9.5 | 8.0 | 7.6 | 2.7 | 2.2 | 2.2 | 0.2 |
Denmark | 7.3 | -0.4 | 0.3 | 0.4 | 0.9 | 0.6 | 0.8 | 0.0 |
Germany | 7.8 | 3.0 | 2.3 | 3.8 | 3.1 | 2.7 | 2.3 | 0.6 |
Estonia | 15.6 | 5.0 | 4.1 | 4.3 | 5.0 | 4.4 | 4.1 | 0.4 |
Ireland | 7.0 | 3.6 | 2.5 | 3.2 | 2.7 | 2.3 | 1.7 | 0.3 |
Greece | 5.4 | 3.8 | 2.9 | 3.7 | 3.2 | 3.1 | 3.4 | 1.8 |
Spain | 3.1 | 3.5 | 3.3 | 3.3 | 3.5 | 2.9 | 3.3 | 1.4 |
France | 6.7 | 4.5 | 3.9 | 4.1 | 3.4 | 3.2 | 2.4 | 0.2 |
Croatia | 10.5 | 6.7 | 5.5 | 5.4 | 4.8 | 4.8 | 4.9 | 0.9 |
Italy | 8.1 | 1.8 | 0.6 | 0.5 | 0.9 | 0.8 | 1.2 | 1.2 |
Cyprus | 6.1 | 3.6 | 2.4 | 1.9 | 2.1 | 2.1 | 1.6 | 0.8 |
Latvia | 17.2 | 2.3 | 1.1 | 0.9 | 1.1 | 0.6 | 1.0 | 1.2 |
Lithuania | 15.2 | 3.1 | 2.3 | 1.6 | 1.1 | 1.1 | 0.4 | -0.1 |
Luxembourg | 2.9 | 2.1 | 2.1 | 3.2 | 3.0 | 3.2 | 3.2 | 0.2 |
Hungary | 25.6 | 9.6 | 7.7 | 5.5 | 3.7 | 3.6 | 3.6 | 0.8 |
Malta | 7.1 | 4.2 | 3.9 | 3.7 | 3.7 | 3.0 | 2.7 | 1.0 |
Netherlands | 4.5 | -1.0 | 1.4 | 1.0 | 3.1 | 2.7 | 3.1 | 0.6 |
Austria | 9.2 | 4.9 | 4.9 | 5.7 | 4.3 | 4.0 | 4.1 | 0.7 |
Poland | 15.2 | 6.3 | 6.3 | 6.2 | 4.5 | 3.7 | 2.7 | 0.2 |
Portugal | 8.0 | 3.2 | 2.2 | 1.9 | 2.5 | 2.3 | 2.6 | 2.3 |
Romania | 12.2 | 8.3 | 6.9 | 7.0 | 7.3 | 7.1 | 6.7 | 0.4 |
Slovenia | 10.4 | 6.6 | 4.5 | 3.8 | 3.4 | 3.4 | 3.4 | 0.6 |
Slovakia | 14.8 | 7.8 | 6.9 | 6.6 | 4.4 | 3.8 | 2.7 | 0.1 |
Finland | 6.7 | 2.4 | 0.7 | 1.3 | 1.1 | 1.1 | 0.6 | -0.1 |
Sweden | 8.1 | 4.0 | 3.3 | 1.9 | 3.4 | 2.6 | 2.3 | 0.1 |
Iceland | 8.6 | 7.6 | 7.4 | 6.9 | 5.6 | 5.3 | 5.1 | 0.5 |
Norway | 7.3 | 3.7 | 4.5 | 4.7 | 4.6 | 4.4 | 3.6 | 0.1 |
Switzerland | 2.7 | 2.0 | 1.6 | 2.1 | 1.5 | 1.2 | 1.1 | -0.1 |
Tables
Weights (‰) | Annual rate | Monthly rate | |||||||
|---|---|---|---|---|---|---|---|---|---|
2024 | Mar 23 | Oct 23 | Nov 23 | Dec 23 | Jan 24 | Feb 24 | Mar 24 | Mar 24 | |
All-items HICP | 1000.0 | 6.9 | 2.9 | 2.4 | 2.9 | 2.8 | 2.6 | 2.4 | 0.8 |
All-items excluding: energy | 900.9 | 7.9 | 4.9 | 4.3 | 4.0 | 3.8 | 3.3 | 2.9 | 0.9 |
energy, unprocessed food | 857.4 | 7.5 | 5.0 | 4.2 | 3.9 | 3.6 | 3.3 | 3.1 | 0.9 |
energy, food, alcohol & tobacco | 706.2 | 5.7 | 4.2 | 3.6 | 3.4 | 3.3 | 3.1 | 2.9 | 1.1 |
energy, seasonal food | 876.0 | 7.7 | 5.0 | 4.2 | 3.9 | 3.6 | 3.3 | 3.0 | 0.9 |
tobacco | 979.1 | 6.9 | 2.8 | 2.3 | 2.8 | 2.7 | 2.4 | 2.3 | 0.8 |
Food, alcohol & tobacco | 194.7 | 15.5 | 7.4 | 6.9 | 6.1 | 5.6 | 3.9 | 2.6 | 0.0 |
processed food, alcohol & tobacco | 151.2 | 15.7 | 8.4 | 7.1 | 5.9 | 5.2 | 4.5 | 3.5 | 0.2 |
unprocessed food | 43.5 | 14.7 | 4.5 | 6.3 | 6.8 | 6.9 | 2.1 | -0.5 | -0.6 |
Energy | 99.1 | -0.9 | -11.2 | -11.5 | -6.7 | -6.1 | -3.7 | -1.8 | -0.2 |
Non-energy industrial goods | 257.3 | 6.6 | 3.5 | 2.9 | 2.5 | 2.0 | 1.6 | 1.1 | 1.9 |
Services | 448.8 | 5.1 | 4.6 | 4.0 | 4.0 | 4.0 | 4.0 | 4.0 | 0.7 |
Mar 23 | Oct 23 | Nov 23 | Dec 23 | Jan 24 | Feb 24 | Mar 24 | |
|---|---|---|---|---|---|---|---|
Food, alcohol & tobacco | 3.12 | 1.48 | 1.37 | 1.21 | 1.13 | 0.79 | 0.53 |
processed food, alcohol & tobacco | 2.43 | 1.29 | 1.09 | 0.91 | 0.82 | 0.69 | 0.55 |
unprocessed food | 0.69 | 0.20 | 0.28 | 0.31 | 0.31 | 0.10 | -0.02 |
Energy | -0.05 | -1.46 | -1.41 | -0.68 | -0.62 | -0.36 | -0.16 |
Non-energy industrial goods | 1.71 | 0.90 | 0.75 | 0.66 | 0.53 | 0.42 | 0.30 |
Services | 2.10 | 1.97 | 1.69 | 1.74 | 1.73 | 1.73 | 1.76 |
