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.

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Euro Area Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
-0.30 -0.30 5.00 -0.60 1991 - 2020 percent Monthly


Calendar GMT Actual Previous Consensus TEForecast
2020-10-30 10:00 AM Inflation Rate YoY Flash Oct -0.3% -0.3% -0.3% -0.2%
2020-11-18 10:00 AM Inflation Rate YoY Final Oct -0.3% -0.3% -0.3% -0.3%
2020-12-01 10:00 AM Inflation Rate YoY Flash Nov -0.3% -0.3% -0.2% -0.2%
2020-12-17 10:00 AM Inflation Rate YoY Final Nov -0.3% -0.3% -0.3% -0.3%
2021-01-07 10:00 AM Inflation Rate YoY Flash Dec -0.3% -0.4%
2021-01-20 10:00 AM Inflation Rate YoY Final Dec -0.4%
2021-02-03 10:00 AM Inflation Rate YoY Flash Jan
2021-02-23 10:00 AM Inflation Rate YoY Final Jan


News Stream
Eurozone Consumer Price Deflation Confirmed
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.
2020-12-17
Euro Area Deflation Extends for 4th Month
Consumer prices in the Euro Area went down 0.3 percent year-on-year in November of 2020, the same as in each of the previous two months and worse than market forecasts of a 0.2 percent decline, a flash estimate showed. It is the fourth straight month of deflation as energy cost declined 8.4 percent and non-energy industrial goods were down 0.3 percent. In contrast, the main upward pressure came from prices of food, alcohol and tobacco (1.9 percent) and services (0.6 percent). Core inflation which excludes energy, food, alcohol and tobacco was steady at 0.2 percent. On a monthly basis, consumer prices also declined by 0.3 percent.
2020-12-01
Eurozone Consumer Prices Fall 0.3% in October
The Eurozone consumer prices dropped 0.3 percent from a year earlier in October 2020, matching the previous month's decline, which was the steepest since April 2016. Prices fell for both energy products (-8.2 percent, the same as in September) and non-energy industrial goods (-0.1 percent vs -0.3 percent). At the same time, services inflation slowed to 0.4 percent from 0.5 percent, while food, alcohol & tobacco prices rose at a faster pace (2.0 percent vs 1.8 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.
2020-11-18
Eurozone Consumer Prices Fall for 3rd Month
The Eurozone consumer prices are expected to drop 0.3 percent from a year earlier in October 2020, the same as in the previous month and matching market expectations, a preliminary estimate showed. Prices should decline further for both energy products (-8.4 percent vs -8.2 percent in September) while cost of non-energy industrial goods is set to fall at a softer pace (-0.1 percent vs -0.3 percent). At the same time, inflation is set to slow for services (0.4 percent vs 0.5 percent). Meanwhile, prices of food, alcohol & tobacco is expected to rise at a faster pace (2 percent vs 1.8 percent). The annual core inflation, which excludes volatile prices of energy, food, alcohol & tobacco and at which the ECB looks in its policy decisions, is likely to remain unchanged at a record low of 0.2 percent.
2020-10-30

Euro Area Inflation Rate
In Euro Area, the inflation rate is calculated using the weighted average of the Harmonised Index of Consumer Price (HICP) aggregates. The main components of the HICP are: food, alcohol and tobacco (19 percent of the total weight), energy (11 percent), non-energy industrial goods (29 percent) and services (41 percent). The HICP aggregates are computed as the weighted average of each country’s HICP components. The weight of a country is its share of household final monetary consumption expenditure in the total of the country’s group. The local HICPs are supplied to the Eurostat by the National Statistical Institutes.