of Eurozone The annual inflation rate for May 2024 was 2.6%, up from 2.4% in April. A year ago, the inflation rate was 6.1%. european union The annual inflation rate for May 2024 was 2.7%, up from 2.6% in April. It was 7.1% a year ago. These figures are Eurostat, the statistical office of the European Union.
The lowest annual rate is Latvia (0.0%), Finland (0.4%) Italy (0.8%). The highest annual rate was Romania (5.8%) Belgium (4.9%) Croatia (4.3%). Compared to April, annual inflation fell in 11 member states, remained stable in two and rose in 14.
May saw the highest amount of donations of the year Eurozone Inflation rose from services (+1.83 percentage points, pp), followed by food, alcohol, and tobacco (+0.51 percentage points), non-energy industrial products (+0.18 percentage points), and energy (+0.04 percentage points).
Important Notice for Users
Revision and Schedule
A flash estimate of euro area inflation is published at the end of each reference month. The flash estimate for the euro area for May 2024 was published on 31 May 2024 and was 2.6%.
The next flash estimate of euro area inflation, including data for June 2024, is due to be published on 2 July 2024.
Methods and definitions
Annual inflation rate The change in the price level of consumer goods and services between the current month and the same month last year. Monthly Inflation The change in price level between this month and the previous month.
a contribution It indicates the percentage of the annual inflation rate that a particular component of the HICP contributes. The contribution is calculated according to a method that ensures additivity (allowing for rounding).
Geography
of Eurozone It consists of Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.
of european union These include Belgium, Bulgaria, Czech Republic, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland and Sweden.
Data for the Eurozone and the European Union show the composition of the respective countries at a particular point in time. Changes in the composition of these aggregates are incorporated using chain index formulas.
