Inflation rate in the European Union and the Euro area from 2014 to 2024
(compared to the previous year)
Inflation rate in EU and Euro area 2024
The statistic shows the inflation rate in the European Union and the Euro area from 2014 to 2018, with projections up until 2024. The term inflation, also known as currency devaluation (drop in the value of money), is characterized by a steady rise in prices for finished products (consumer goods, capital goods). The consumer price index tracks price trends of private consumption expenditure, and shows an increase in the index's current level of inflation. In 2018, the inflation rate in the EU was about 1.93 percent compared to the previous year.

The economic situation in the European Union and the euro area

The ongoing Eurozone crisis, which initially emerged in 2009, has dramatically affected most countries in the European Union. The crisis primarily prevented many countries from refinancing their debt without help from a third party and slowed economic growth throughout the entire EU. As a result, general gross debt escalated annually in the euro area and more prominently in the EU. The collective sum of debt is most likely going to continue, given the current global economic situation as well as Europe’s recovering, however struggling economy. Struggles are primarily evident in the EU’s budget balance, which saw itself in the negative every year over the same timeframe as the eurozone crisis, although the balances improved on a yearly basis. Despite economical struggles, the EU still grew in population almost every year over the past decade, primarily due to a high standard of living and job opportunities, compared to many of its surrounding neighbors.
Inflation rate in the European Union and the Euro area from 2014 to 2024
(compared to the previous year)
EUEuro area
2024*1.98%1.84%
2023*1.94%1.77%
2022*1.88%1.67%
2021*1.78%1.5%
2020*1.69%1.38%
2019*1.55%1.23%
20181.93%1.76%
20171.74%1.54%
20160.23%0.24%
20150.1%0.19%
20140.54%0.43%
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Source

Release date

October 2019

Region

EU

Survey time period

2014 to 2024*

Supplementary notes

* Estimate.

Values have been rounded.

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Inflation rate in EU and Euro area 2024
The statistic shows the inflation rate in the European Union and the Euro area from 2014 to 2018, with projections up until 2024. The term inflation, also known as currency devaluation (drop in the value of money), is characterized by a steady rise in prices for finished products (consumer goods, capital goods). The consumer price index tracks price trends of private consumption expenditure, and shows an increase in the index's current level of inflation. In 2018, the inflation rate in the EU was about 1.93 percent compared to the previous year.

The economic situation in the European Union and the euro area

The ongoing Eurozone crisis, which initially emerged in 2009, has dramatically affected most countries in the European Union. The crisis primarily prevented many countries from refinancing their debt without help from a third party and slowed economic growth throughout the entire EU. As a result, general gross debt escalated annually in the euro area and more prominently in the EU. The collective sum of debt is most likely going to continue, given the current global economic situation as well as Europe’s recovering, however struggling economy. Struggles are primarily evident in the EU’s budget balance, which saw itself in the negative every year over the same timeframe as the eurozone crisis, although the balances improved on a yearly basis. Despite economical struggles, the EU still grew in population almost every year over the past decade, primarily due to a high standard of living and job opportunities, compared to many of its surrounding neighbors.
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