Belgium reported the highest annual inflation rate in the euro area in September 2024, of 4.5%, according to flash estimates prepared by Eurostat.
Other countries to report high inflation rates in the euro area for the month included the Netherlands (3.3%), Estonia (3.2%), Greece (3.0%) and Croatia (3.0%).
Across the euro area, annual inflation stood at 1.8% in September 2024, down from 2.2% in August, the data showed.
Inflation drivers
In terms of the segments that had the highest influence on inflation, services (4.0%, compared with 4.1% in August) led the way, followed by food, alcohol & tobacco (2.4%, compared with 2.3% in August), non-energy industrial goods (0.4%, stable compared with August) and energy (-6.0%, compared with -3.0% in August).
At the other end of the scale, the countries that reported the lowest level of inflation in September 2024 were Ireland (0.2%), Lithuania (0.4%), Slovenia (0.7%), Finland (0.8%), Luxembourg (0.8%) and Italy (0.8%).
As regards Europe’s other largest economies, Germany reported an inflation rate of 1.8%, Spain was on 1.7% and France reported a rate of 1.5% for the month.
Annual inflation rate by country, September 2024 (flash estimates)
| Country | Inflation Rate (%) |
|---|---|
| Belgium | 4.5 |
| Netherlands | 3.3 |
| Estonia | 3.2 |
| Greece | 3.0 |
| Croatia | 3.0 |
| Slovakia | 2.9 |
| Portugal | 2.6 |
| Malta | 2.1 |
| Cyprus | 1.9 |
| Germany | 1.8 |
| Austria | 1.8 |
| Spain | 1.7 |
| Latvia | 1.6 |
| France | 1.5 |
| Italy | 0.8 |
| Luxembourg | 0.8 |
| Finland | 0.8 |
| Slovenia | 0.7 |
| Lithuania | 0.4 |
| Ireland | 0.2 |
