The annual inflation rate in the Eurozone reached 2.2% in November 2024, an increase from 2.0% in October. A year earlier, it was 2.4%. The annual inflation rate in the European Union reached 2.5% in November 2024, an increase from 2.3% in October. A year earlier, the rate was 3.1%. These figures are published by Eurostat, the statistical office of the European Union.
The lowest annual inflation rate was recorded in Ireland (0.5%), Lithuania, and Luxembourg (both countries at 1.1%). The highest annual rates were recorded in Romania (5.4%), Belgium (4.8%), and Croatia (4.0%). Compared to October 2024, the annual inflation rate decreased in four member states, remained stable in three, and increased in twenty.
In November 2024, the main contributors to the annual inflation rate in the Eurozone were services (+1.74 percentage points), followed by food, alcohol, and tobacco (+0.53 percentage points), non-energy industrial goods (+0.17 percentage points), and energy (-0.19 percentage points).
Inflation rate (%) measured by HICP
