Romania reported the highest annual inflation rate in the European Union in January 2026, of 8.5%, according to new data from Eurostat.
Other countries to report a higher-than-average inflation rate for the month included Slovakia (4.3%), Estonia (3.8%), Croatia (3.6%), Latvia (2.9%) and Greece (2.9%).
The lowest annual inflation rates were recorded in France (0.4%), Denmark (0.6%), Finland (1.0%) and Italy (1.0%).
On a month-on-month basis, i.e. compared to December 2025, the annual inflation rate rose in three EU member states, remained stable in one and fell in 23 member states, according to Eurostat.
Annual inflation rate
Overall, across the European Union, the annual inflation rate stood at 2.0% in January 2026, down from 2.3% the previous month and 2.8% in January 2025. In the euro area specifically, the annual inflation rate stood at 1.7% for the month, down from 2.0% in December.
The highest contribution to the annual euro area inflation rate in January came from services (+1.45 percentage points), followed by food, alcohol & tobacco (+0.51 percentage points), non-energy industrial goods (+0.09 percentage points) and energy (-0.39 percentage points), Eurostat’s data showed. Read more here.
Harmonised Index of Consumer Prices (HICP), January 2026 (Index 2025 = 100)
| Country | HICP Index (2025 = 100) |
|---|---|
| Belgium | 99.54 |
| Bulgaria | 101.58 |
| Czechia | 100.62 |
| Denmark | 99.37 |
| Germany | 100.56 |
| Estonia | 100.99 |
| Ireland | 100.27 |
| Greece | 100.16 |
| Spain | 100.53 |
| France | 99.59 |
| Croatia | 101.25 |
| Italy | 99.50 |
| Cyprus | 99.41 |
| Latvia | 100.42 |
| Lithuania | 101.72 |
| Luxembourg | 99.44 |
| Hungary | 101.11 |
| Malta | 97.47 |
| Netherlands | 99.21 |
| Austria | 100.65 |
| Poland | 101.41 |
| Portugal | 99.24 |
| Romania | 104.61 |
| Slovenia | 100.35 |
| Slovakia | 102.73 |
| Finland | 100.27 |
| Sweden | 100.65 |
