The annual inflation rate in the Euro Area remained constant at 2.4 per cent in April when compared to the previous month of March.
In the year earlier the annual inflation rate was 7.0 per cent. In April 2024, the European Union’s (EU) annual inflation rate remained steady at 2.6 per cent from the previous month of March.
In the previous month, the annual inflation rate for the EU was 8.1 per cent. The data was released earlier this week by the EU’s statistical office, Eurostat.
Finland (0.6 per cent), Denmark (0.5 per cent), and Lithuania (0.4 per cent) had the lowest yearly rates. The countries with the highest annual rates were Belgium (4.9 per cent), Croatia (4.7 per cent), and Romania (6.2 per cent).
In fifteen EU member states, annual inflation decreased, stayed stable in four, and increased in eight when compared to March 2024. Services contributed 1.64 percentage points (pp) to the annual inflation rate in the Euro Area in April 2024, more than any other sector.
Food, alcohol, and tobacco (+0.55 pp), non-energy industrial goods (+0.23 pp), and energy (-0.04 pp) were the next highest contributors.
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