Annual inflation stable at 2.0% in the euro area

Overview

The euro area annual inflation rate was 2.0 % in July 2025 , stable compared to June . A year earlier, the rate was 2.6 %. European Union annual inflation was 2.4 % in July 2025 , up from 2.3% in June . A year earlier, the rate was 2.8 %. These figures are published by Eurostat, the statistical office of the European Union.

The lowest annual rates were registered in Cyprus (0.1%), France (0.9%) and Ireland (1.6%) . The highest annual rates were recorded in Romania (6.6%), Estonia (5.6%) and Slovakia (4.6%) . Compared with June 2025 , annual inflation fell in eight Member States, remained stable in six and rose in thirteen .

In July 2025 , the highest contribution to the annual euro area inflation rate came from services (+1.46 percentage points, pp), followed by food, alcohol & tobacco (+0.63 pp), non-energy industrial goods (+0.18 pp) and energy (-0.23 pp) .

Annual inflation rates (%) in July 2025

Inflation rates (%) measured by the HICP
	Annual rate							Monthly rate
	Jul 24	Feb 25	Mar 25	Apr 25	May 25	Jun 25	Jul 25	Jul 25
Euro area	2.6	2.3	2.2	2.2	1.9	2.0	2.0	0.0
EU	2.8	2.7	2.5	2.4	2.2	2.3	2.4	0.1
Belgium	5.4	4.4	3.6	3.1	2.8	2.9	2.6	-0.8
Bulgaria	2.8	3.9	4.0	2.8	2.9	3.1	3.4	1.4
Czechia	2.5	2.8	2.7	1.7	2.3	2.8	2.5	0.4
Denmark	1.0	2.0	1.4	1.5	1.5	1.8	2.2	1.7
Germany	2.6	2.6	2.3	2.2	2.1	2.0	1.8	0.4
Estonia	3.5	5.1	4.3	4.4	4.6	5.2	5.6	0.6
Ireland	1.5	1.4	1.8	2.0	1.4	1.6	1.6	0.2
Greece	3.0	3.0	3.1	2.6	3.3	3.6	3.7	-0.3
Spain	2.9	2.9	2.2	2.2	2.0	2.3	2.7	-0.3
France	2.7	0.9	0.9	0.9	0.6	0.9	0.9	0.3
Croatia	3.3	4.8	4.3	4.0	4.3	4.4	4.5	1.2
Italy	1.6	1.7	2.1	2.0	1.7	1.8	1.7	-1.0
Cyprus	2.4	2.3	2.1	1.4	0.4	0.5	0.1	0.4
Latvia	0.8	3.7	3.5	4.0	3.7	3.9	3.9	0.1
Lithuania	1.1	3.2	3.7	3.6	3.0	3.2	3.4	0.1
Luxembourg	2.7	1.9	1.5	1.7	2.1	2.4	2.6	-0.3
Hungary	4.1	5.7	4.8	4.2	4.5	4.6	4.2	0.4
Malta	2.3	2.0	2.1	2.6	2.7	2.5	2.5	0.4
Netherlands	3.5	3.5	3.4	4.1	2.9	2.8	2.5p	1.0p
Austria	2.9	3.4	3.1	3.3	3.0	3.2	3.7	0.1
Poland	4.0	4.3	4.4	3.7	3.5	3.4	2.9	0.3
Portugal	2.7	2.5	1.9	2.1	1.7	2.1	2.5	-0.3
Romania	5.8	5.2	5.1	4.9	5.4	5.8	6.6	1.3
Slovenia	1.4	1.9	2.2	2.3	1.9	2.5	2.9	0.3
Slovakia	3.0	4.1	4.2	3.9	4.3	4.6	4.6	0.4
Finland	0.5	1.5	1.8	1.9	2.0	1.9	1.9	0.3
Sweden	1.7	2.8	2.1	2.1	2.3	2.9	3.1	0.3
Iceland	5.0	3.4	3.4	3.9	3.5	3.9	3.7	0.5
Norway	2.4	3.3	2.3	2.1	2.7	2.7	3.1	0.9
Switzerland	1.2	0.1	0.1	0.3	-0.2	0.2	0.1	0.3
p provisional Source dataset: prc_hicp_manr and prc_hicp_mmor

Annual inflation rates (%)

Tables

Euro area inflation rate (%), selected aggregates
	Weights (‰)	Annual rate							Monthly rate
	2025	Jul 24	Feb 25	Mar 25	Apr 25	May 25	Jun 25	Jul 25	Jul 25
All-items HICP	1000.0	2.6	2.3	2.2	2.2	1.9	2.0	2.0	0.0
All-items excluding: energy	906.0	2.7	2.6	2.5	2.8	2.5	2.5	2.5	-0.1
energy, unprocessed food	863.4	2.8	2.6	2.5	2.7	2.4	2.4	2.4	-0.1
energy, food, alcohol & tobacco	712.8	2.9	2.6	2.4	2.7	2.3	2.3	2.3	-0.2
energy, seasonal food	881.7	2.8	2.6	2.5	2.7	2.5	2.4	2.5	-0.1
tobacco	978.5	2.5	2.2	2.1	2.1	1.8	1.9	2.0	0.0
Food, alcohol & tobacco	193.3	2.3	2.7	2.9	3.0	3.2	3.1	3.3	0.2
processed food, alcohol & tobacco	150.6	2.7	2.6	2.6	2.4	2.9	2.6	2.7	0.3
unprocessed food	42.7	1.0	3.0	4.2	4.9	4.3	4.6	5.4	-0.2
Energy	94.0	1.2	0.2	-1.0	-3.6	-3.6	-2.6	-2.4	1.0
Non-energy industrial goods	256.3	0.7	0.6	0.6	0.6	0.6	0.5	0.8	-2.4
Services	456.5	4.0	3.7	3.5	4.0	3.2	3.3	3.2	1.1
Source dataset: prc_hicp_manr and prc_hicp_mmor

Contributions to the euro area annual inflation rate (pp), selected aggregates
	Jul 24	Feb 25	Mar 25	Apr 25	May 25	Jun 25	Jul 25
Food, alcohol & tobacco	0.45	0.52	0.57	0.57	0.62	0.59	0.63
processed food, alcohol & tobacco	0.41	0.39	0.39	0.37	0.43	0.40	0.40
unprocessed food	0.05	0.13	0.18	0.21	0.18	0.19	0.23
Energy	0.12	0.01	-0.10	-0.35	-0.34	-0.25	-0.23
Non-energy industrial goods	0.19	0.14	0.16	0.15	0.16	0.13	0.18
Services	1.82	1.66	1.56	1.80	1.47	1.51	1.46
Source dataset: prc_hicp_ctrb

Notes for users

Revisions and timetable

A flash estimate of euro area inflation is issued at the end of each reference month. The euro area flash estimate for July 2025 , published on 1 August 2025 , was 2 %.

The next flash estimate of euro area inflation with data for August 2025 is scheduled for 2 September 2025 .

Methods and definitions

Annual inflation is the price change of consumer goods and services between the current month and the same month of the previous year. Monthly inflation is the price change between the current month and the previous month.

A contribution shows how much of the annual inflation rate comes from a particular component of the HICP. The contributions are calculated according to a method which ensures their additivity (allowing for rounding).

Geographical information

The euro area consists of Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.

The European Union includes Belgium, Bulgaria, Czechia, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland and Sweden.

The euro area and European Union data refer to the respective country compositions at a specific point in time. Changes in the composition of these aggregates are incorporated using a chain index formula.