Belgium had the highest inflation rate in the euro area in July 2024, of 5.5%, according to flash estimates published by Eurostat. Belgium also topped the euro area inflation table in June 2024.
In terms of the countries for which inflation estimates are available, Estonia (3.5%), The Netherlands (3.5%), Croatia (3.4%) and Greece (3.0%) were among those at the upper end of the scale.
At the lower end, Bulgaria reported the lowest inflation rate in the EU in July 2024, of 0.6%, followed by Latvia (0.8%), Lithuania (1.1%), Slovenia (1.4%) and Ireland (1.5%).
No inflation data was available for Bulgaria, Czechia, Denmark, Hungary, Poland, Romania and Sweden, as these fall outside the euro area.
Euro area inflation
Euro area annual inflation was projected at 2.6% in July 2024, up from 2.5% in June, according to Eurostat.
Among the main components of inflation, services showed the highest annual rate at 4.0%, down slightly from 4.1% in June.
This is followed by food, alcohol, and tobacco with a rate of 2.3%, compared to 2.4% in June. Energy is at 1.3%, up from 0.2% the previous month, while non-energy industrial goods are forecasted to rise to 0.8%, from 0.7% in June.
Euro area inflation in June 2024, by country (estimated, %)
| Country | Inflation Rate (%) |
|---|---|
| Belgium | 5.5 |
| Estonia | 3.5 |
| Netherlands | 3.5 |
| Croatia | 3.4 |
| Greece | 3.0 |
| Spain | 2.9 |
| Austria | 2.9 |
| Slovakia | 2.9 |
| Luxembourg | 2.7 |
| Portugal | 2.7 |
| Germany | 2.6 |
| France | 2.6 |
| Cyprus | 2.6 |
| Malta | 2.3 |
| Italy | 1.7 |
| Ireland | 1.5 |
| Slovenia | 1.4 |
| Lithuania | 1.1 |
| Latvia | 0.8 |
| Finland | 0.6 |
| Bulgaria | n/a |
| Czechia | n/a |
| Denmark | n/a |
| Hungary | n/a |
| Poland | n/a |
| Romania | n/a |
| Sweden | n/a |
