Lithuania reported the lowest annual inflation rate in the European Union in March 2024, of 0.6%, just ahead of Finland (0.6%) and Denmark (0.8%).
According to Eurostat data, the highest inflation rates in the European Union for the month were recorded in Romania (6.7%), Croatia (4.9%), and Estonia and Austria (both 4.1%).
Across the European Union, the annual inflation rate stood at 2.6% in March, compared to 2.8% in February. In March 2023, meanwhile, the inflation rate for the EU stood at 8.3%.
Looking at the euro area specifically, inflation stood at 2.4% in March, down from 2.6% in February.
Sector inflation
On a sector-by-sector basis, the highest contribution to euro area inflation came from the services sector, which contributed 1.76 percentage points. Food, alcohol & tobacco contributed 0.53 percentage points while there was also a contribution from non-energy industrial goods (+0.30 pp).
Energy, meanwhile, made a negative contribution (-0.16 pp).
EU countries ranked by inflation rate, March 2024
| Country | Inflation (%) |
|---|---|
| Romania | 6.7 |
| Croatia | 4.9 |
| Estonia | 4.1 |
| Austria | 4.1 |
| Belgium | 3.8 |
| Hungary | 3.6 |
| Greece | 3.4 |
| Slovenia | 3.4 |
| Spain | 3.3 |
| Luxembourg | 3.2 |
| Bulgaria | 3.1 |
| Netherlands | 3.1 |
| Malta | 2.7 |
| Poland | 2.7 |
| Slovakia | 2.7 |
| Portugal | 2.6 |
| France | 2.4 |
| Germany | 2.3 |
| Sweden | 2.3 |
| Czechia | 2.2 |
| Ireland | 1.7 |
| Cyprus | 1.6 |
| Italy | 1.2 |
| Latvia | 1.0 |
| Denmark | 0.8 |
| Finland | 0.6 |
| Lithuania | 0.4 |
