of euro area The annual inflation rate in February 2024 was 2.6%, down from 2.8% in January. A year ago, it was 8.5%. The European Union's annual inflation rate in February 2024 was 2.8%, down from 3.1% in January. A year ago, it was 9.9%. These numbers are Eurostat, Statistical Office of the European Union.
The lowest annual percentage rates are: latvia, Denmark (both 0.6%) and Italy (0.8%). The highest annual interest rate was recorded by Romania (7.1%), Croatia (4.8%) and estonia (4.4%). Compared to January, annual inflation rates fell in 20 member states, remained stable in five, and rose in two.
February had the highest contribution to annual revenue. euro area Inflation was in services (+1.73 percentage points, pp), followed by food, alcohol and tobacco (+0.79 points), non-energy industrial products (+0.42 points), and energy (-0.36 points).
Note to users
Revision and schedule
Preliminary figures for euro area inflation are published at the end of each reference month. The preliminary forecast for the euro area in February 2024, released on March 1, 2024, was 2.6%.
The next preliminary euro area inflation report, including data for March 2024, is scheduled for April 3, 2024.
Method and definition
annual inflation The change in the price level of consumer goods and services between the current month and the same month of the previous year. monthly inflation Change in price level between the current month and the previous month.
a contribution shows how much of the annual inflation rate comes from a particular component of the HICP. Contributions are calculated according to a method that guarantees their additivity (taking into account rounding).
geographic information
of euro area It consists of Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia, and Finland.
of european union 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, Sweden.
Eurozone and European Union data refer to the composition of each country at a particular point in time. These changes in aggregate composition are incorporated using the chain index equation.
