Romania boasted the highest annual inflation rate in the euro area in November 2024, with an inflation rate of 5.4%, new data from Eurostat has found.
According to the data, other countries to report a high inflation rate for the month included Belgium (4.8%), Croatia (4.0%), Hungary (3.9%), Poland (3.9%), Estonia (3.8%) and the Netherlands (3.8%).
At the other end of the scale, inflation was lowest in Ireland, at 0.5%), while Luxembourg (1.1%), Lithuania (1.1%) and Italy also reported low inflation for the month.
On a month on month basis, annual inflation fell in four member states, remained stable in three and rose in 20.
Euro area inflation
Euro area inflation stood at 2.2% in November 2024, up from 2.0% the previous month but down from 2.4% in November 2023. Across the entire European Union, meanwhile, inflation stood at 2.5% in November, down from 3.1% a year ago.
Services made the most significant contribution to the annual euro area inflation rate, accounting for 1.74 percentage points. Food, alcohol, and tobacco followed, contributing 0.53 percentage points, with non-energy industrial goods contributing 0.17 percentage points.
Energy prices, however, provided a negative contribution of -0.19 percentage points, according to the data. Read more here.
Inflation rate by euro area country, November 2024 (%)
| Country | Inflation Rate (%) |
|---|---|
| Romania | 5.4 |
| Belgium | 4.8 |
| Croatia | 4.0 |
| Hungary | 3.9 |
| Poland | 3.9 |
| Estonia | 3.8 |
| Netherlands | 3.8 |
| Slovakia | 3.6 |
| Czechia | 3.1 |
| Greece | 3.0 |
| Portugal | 2.7 |
| Germany | 2.4 |
| Spain | 2.4 |
| Latvia | 2.3 |
| Cyprus | 2.2 |
| Malta | 2.1 |
| Bulgaria | 2.0 |
| Sweden | 2.0 |
| Austria | 1.9 |
| France | 1.7 |
| Finland | 1.7 |
| Denmark | 1.6 |
| Slovenia | 1.6 |
| Italy | 1.5 |
| Lithuania | 1.1 |
| Luxembourg | 1.1 |
| Ireland | 0.5 |
