European Union Inflation Rate
Consumer price inflation, annual % FP.CPI.TOTL.ZG
European Union's inflation rate was 2.44% in 2024, ranked 74th globally. This represents a 61.3% decrease from 2023. Data from World Bank, covering 1960–2024.
Overview
European Union's inflation rate stood at 2.44% in 2024, a decline of +3.86pp from 2023. European Union ranked 74th globally.
The European Union’s inflation rate in 2024 stands at 2.44 %, placing it 74th in the global ranking and matching the current level observed in Czechia while only marginally above Bulgaria’s 2.45 % and Portugal’s 2.42 % rates. Over the 65‑year series, inflation has oscillated from a low of 1.74 % in 1960 to an all‑time peak of 13.16 % during the oil‑price shock of 1974, before reaching a historic trough of –0.06 % in 2015 amid deflationary pressures in the euro area. The post‑crisis rebound has been gradual, with the 2024 figure reflecting a modest but stable price environment after several years of volatility. Continued cohesion of monetary policy, resilience of supply chains and the trajectory of energy prices will shape whether the EU can maintain inflation near the 2 % target or whether external shocks could push the rate higher in the coming years.
Data & projection
| Year | Inflation Rate | YoY change | Rank |
|---|---|---|---|
| 2024 | 2.44% | −3.86pp | #74 |
| 2023 | 6.30% | −2.53pp | #113 |
| 2022 | 8.83% | +6.28pp | #115 |
| 2021 | 2.55% | +2.08pp | #76 |
| 2020 | 0.48% | −1.15pp | #52 |
| 2019 | 1.63% | −0.11pp | #77 |
| 2018 | 1.74% | +0.31pp | #70 |
| 2017 | 1.43% | +1.25pp | #62 |
| 2016 | 0.18% | +0.24pp | #53 |
| 2015 | -0.06% | −0.26pp | #49 |
| 2014 | 0.20% | −1.02pp | #34 |
| 2013 | 1.22% | −1.44pp | #51 |
| 2012 | 2.66% | −0.63pp | #67 |
| 2011 | 3.29% | +1.76pp | #57 |
| 2010 | 1.53% | +0.69pp | #54 |
Analysis
European Union's inflation rate was 2.44% in 2024, a decline of −3.86pp from 2023.
Frequently Asked Questions
European Union's inflation rate was 2.44% in 2024. Ranked 74th globally. This represents a 61.3% decrease from the previous year.
European Union's inflation rate peaked at 13.16% in 1974.
The lowest inflation rate in European Union was -0.06% in 2015.
European Union ranks 74th globally in inflation rate as of 2024.
The World Bank indicator code is FP.CPI.TOTL.ZG. Data sourced from World Bank.
The inflation rate of European Union in 2024 was 2.44%. This ranks 74th in the world.
Cite this page
@misc{historysaid_european-union_inflation-rate,
title = {European Union Inflation Rate},
url = {https://historysaid.com/european-union/inflation-rate/},
publisher = {HistorySaid},
year = {2026}
}