Belgium had the highest inflation rate in the euro area in May 2024, according to flash estimates provided by Eurostat.
Inflation in Belgium stood at 4.9% for the month, ahead of Croatia (4.3%), Portugal (3.9%), Spain (3.8%) and Austria (3.3%), according to the data.
At the other end of the spectrum, in terms of the countries for which data is available, Latvia reported the lowest EU inflation rate, of 0.2%, while Finland (0.5%), Lithuania (0.8%) and Italy (0.8%) also reported inflation rates less than 1%.
Overall inflation rate
In the euro area as a whole, inflation stood at 2.6% in May 2024, up from 2.4% in April, according to the data.
The services sector had the highest annual inflation rate in May at 4.1%, up from 3.7% in April. This was followed by food, alcohol, and tobacco at 2.6%, down from 2.8% in April; non-energy industrial goods at 0.8%, down from 0.9% in April; and energy at 0.3%, up from -0.6% in April, according to Eurostat.
Euro area inflation rates May 2024 (%, flash estimate)
| Country | Inflation Rate (May 2024, %) |
|---|---|
| Belgium | 4.9 |
| Croatia | 4.3 |
| Portugal | 3.9 |
| Spain | 3.8 |
| Austria | 3.3 |
| Luxembourg | 3.2 |
| Estonia | 3.1 |
| Cyprus | 3.0 |
| Germany | 2.8 |
| France | 2.7 |
| Netherlands | 2.7 |
| Slovakia | 2.7 |
| Slovenia | 2.5 |
| Greece | 2.3 |
| Malta | 2.3 |
| Ireland | 1.9 |
| Italy | 0.8 |
| Lithuania | 0.8 |
| Finland | 0.5 |
| Latvia | 0.2 |
