Eurozone consumer prices fell for a third consecutive month by 0.3 percent year-on-year in November 2020, the steepest decline since April 2016, amid subdued demand due to the coronavirus crisis. Prices fell for both energy (-8.3 percent vs -8.2 percent in October) and non-energy industrial goods (-0.3 percent vs -0.1 percent). At the same time, food, alcohol & tobacco increased at a slightly softer pace (1.9 percent vs 2.0 percent) and services inflation picked up (0.6 percent vs 0.4 percent). The annual core inflation, which excludes volatile prices of energy, food, alcohol & tobacco and at which the ECB looks in its policy decisions, was unchanged at 0.2 percent, the lowest on record. source: EUROSTAT
Inflation Rate in the Euro Area averaged 1.93 percent from 1991 until 2020, reaching an all time high of 5 percent in July of 1991 and a record low of -0.60 percent in July of 2009. 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 prediction, economic calendar, survey consensus and news. Euro Area Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.
Inflation Rate in Euro Area is expected to be -0.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Euro Area to stand at 1.20 in 12 months time. In the long-term, the Euro Area Inflation Rate is projected to trend around 1.40 percent in 2021 and 1.70 percent in 2022, according to our econometric models.