Annual inflation up to 3.2% in the euro area

The euro area annual inflation rate was 3.2 % in May 2026 , up from 3.0% in April . A year earlier, the rate was 1.9 %. European Union annual inflation was 3.3 % in May 2026 , up from 3.2% in April . A year earlier, the rate was 2.2 %. These figures are published by Eurostat, the statistical office of the European Union.

The lowest annual rates were registered in Sweden (1.1%), Denmark and Czechia (both 1.8%) . The highest annual rates were recorded in Romania (9.7%), Bulgaria (6.3%) and Lithuania (5.1%) . Compared with April 2026 , annual inflation fell in eleven Member States and rose in sixteen .

In May 2026 , services (+1.61 percentage points, pp), energy (+0.98 percentage points, pp), food, alcohol & tobacco (+0.36 percentage points, pp) and non-energy industrial goods (+0.23 percentage points, pp) contributed positively to the annual euro area inflation rate.

Annual inflation rates (%) in May 2026

Inflation rates (%) measured by the HICP
	Annual rate							Monthly rate
	May 25	Dec 25	Jan 26	Feb 26	Mar 26	Apr 26	May 26	May 26
Euro area	1.9	2.0	1.7	1.9	2.6	3.0	3.2	0.1
EU	2.2	2.3	2.0	2.1	2.8	3.2	3.3	0.1
Belgium	2.8	2.2	1.4	1.4	2.2	4.2	4.0	-0.3
Bulgaria	2.9	3.5	2.3	2.1	2.8	6.0	6.3	0.3
Czechia	2.3	1.7	1.2	1.0	1.5	2.1	1.8	0.2
Denmark	1.5	1.9	0.6	0.5	1.0	1.2	1.8	0.6
Germany	2.1	2.0	2.1	2.0	2.8	2.9	2.7	-0.1
Estonia	4.6	4.0	3.8	3.2	3.5	3.2	3.6	0.5
Ireland	1.4	2.7	2.5	2.5	3.6	3.6	3.5	-0.2
Greece	3.3	2.9	2.9	3.1	3.4	4.6	4.9	0.6
Spain	2.0	3.0	2.4	2.5	3.4	3.5	3.6	0.1
France	0.6	0.7	0.4	1.1	2.0	2.5	2.8	0.1
Croatia	4.3	3.8	3.6	3.9	4.6	5.4	4.9	0.1
Italy	1.7	1.2	1.0	1.5	1.6	2.8	3.2	0.3
Cyprus	0.4	0.1	1.2	0.9	1.5	3.0	3.5	0.7
Latvia	3.7	3.4	2.9	2.4	3.4	2.9	3.5	0.6
Lithuania	3.0	3.2	2.8	3.3	4.4	4.9	5.1	-0.1
Luxembourg	2.1	3.3	1.6	1.8	3.8	5.2	4.5	-0.2
Hungary	4.5	3.3	2.3	1.6	2.1	2.6	2.3	0.0
Malta	2.7	2.5	2.3	2.3	2.3	2.5	2.1	1.4
Netherlands	2.9	2.7	2.2	2.3	2.6	2.5	3.4	0.0
Austria	3.0	3.8	2.1	2.3	3.2	3.4	3.7	0.1
Poland	3.6	2.6	2.5	2.5	3.2	3.4	3.3	-0.1
Portugal	1.7	2.4	1.9	2.1	2.7	3.3	3.1	0.4
Romania	5.4	8.6	8.5	8.3	9.0	9.5	9.7	0.7
Slovenia	1.9	2.6	2.4	2.8	2.4	3.4	3.8	0.3
Slovakia	4.3	4.1	4.3	4.0	3.7	4.1	4.0	0.4
Finland	2.0	1.7	1.0	1.8	2.5	2.4	2.8	0.5
Sweden	2.3	2.1	2.0	1.7	1.5	0.5	1.1	1.0
Iceland	3.5	4.0	4.4	4.7	5.0	4.9	4.8	0.4
Norway	2.8	3.0	3.5	2.6	3.6	3.4	3.1	0.2
Switzerland	-0.2	0.2	0.2	0.5	0.6	0.5	0.9	0.1
Source dataset: prc_hicp_minr

Annual inflation rates (%)

Tables

Euro area inflation rate (%), selected aggregates
	Weights (‰)	Annual rate							Monthly rate
	2026	May 25	Dec 25	Jan 26	Feb 26	Mar 26	Apr 26	May 26	May 26
All-items HICP	1000.0	1.9	2.0	1.7	1.9	2.6	3.0	3.2	0.1
All-items excluding: energy	909.5	2.5	2.4	2.3	2.4	2.3	2.2	2.4	0.2
energy, unprocessed food	858.0	2.4	2.3	2.2	2.3	2.2	2.1	2.3	0.3
energy, food, alcohol & tobacco	719.8	2.3	2.3	2.2	2.4	2.3	2.2	2.6	0.3
energy, seasonal food	884.0	2.4	2.4	2.3	2.4	2.3	2.2	2.4	0.3
tobacco	979.7	1.8	1.9	1.6	1.8	2.5	3.0	3.1	0.1
Food, alcohol & tobacco	189.8	3.2	2.5	2.6	2.5	2.4	2.4	1.9	-0.1
processed food, alcohol & tobacco	138.3	3.0	2.1	2.0	1.8	1.7	1.6	1.1	0.0
unprocessed food	51.5	3.7	3.5	4.2	4.6	4.2	4.6	4.0	-0.4
Energy	90.5	-3.6	-1.9	-4.0	-3.1	5.1	10.8	10.8	-1.2
Non-energy industrial goods	252.8	0.6	0.3	0.4	0.7	0.5	0.8	0.9	0.2
Services	466.9	3.2	3.4	3.2	3.4	3.3	3.0	3.5	0.4
Source dataset: prc_hicp_minr and prc_hicp_iw

Contributions to the euro area annual inflation rate (pp), selected aggregates
	May 25	Dec 25	Jan 26	Feb 26	Mar 26	Apr 26	May 26
Food, alcohol & tobacco	0.62	0.48	0.51	0.48	0.45	0.46	0.36
processed food, alcohol & tobacco	0.42	0.30	0.29	0.25	0.23	0.22	0.15
unprocessed food	0.19	0.18	0.22	0.24	0.22	0.24	0.21
Energy	-0.34	-0.18	-0.39	-0.30	0.48	0.99	0.98
Non-energy industrial goods	0.15	0.09	0.09	0.17	0.13	0.20	0.23
Services	1.47	1.57	1.46	1.54	1.49	1.38	1.61
Source dataset: prc_hicp_ctr

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 May 2026 , published on 2 June 2026 , was 3.2 %.

The next flash estimate of euro area inflation with data for June 2026 is scheduled for 1 July 2026 .

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

Up to December 31, 2025, the euro area included Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland (EA20). From 1 January 2026, the euro area also includes Bulgaria (EA21).

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 (EU27).

The aggregate data series published in this Euro indicator release refer to the evolving composition of the euro area and the European Union. Thus, Euro indicator data for months up to December 2025 represent EA20 series, while Euro indicator data for January 2026 onwards represent EA21 series. Changes in the composition of the euro area are incorporated using a chain index formula.