According to flash estimates from Eurostat, Belgium boasted the highest annual inflation rate in the euro area in June 2024, of 5.5%, ahead of Spain (3.5%) and Croatia and the Netherlands (both 3.4%).
The estimates indicate that euro area inflation is expected to stand at 2.5% in June 2024, down from 2.6% a month earlier.
Sector inflation
On a sector-by-sector basis, services reported highest annual inflation rate in June at 4.1% (stable compared with May), followed by food, alcohol, and tobacco at 2.5% (down from 2.6% the previous month), non-energy industrial goods at 0.7% (stable), and energy at 0.2% (down from 0.3%), Eurostat’s data showed.
Other countries to report an inflation rate above the average for the month include Austria (3.2%), Cyprus (3.1%), Portugal (3.1%). Estonia (2.8%) and Luxembourg (2.8%).
At the other end of the spectrum, Finland reported an inflation rate of just 0.6%, while Italy’s rate stood at 0.9% and Lithuania at 1.0%.
No data was available for Bulgaria, Czechia, Denmark, Hungary, Poland, Romania and Sweden.
Euro area inflation rate by country, June 2024 (estimated)
| Rank | Country | Inflation Rate (%) |
|---|---|---|
| 1 | Belgium | 5.5 |
| 2 | Spain | 3.5 |
| 3 | Croatia | 3.4 |
| 4 | Netherlands | 3.4 |
| 5 | Austria | 3.2 |
| 6 | Cyprus | 3.1 |
| 7 | Portugal | 3.1 |
| 8 | Estonia | 2.8 |
| 9 | Luxembourg | 2.8 |
| 10 | Germany | 2.5 |
| 11 | France | 2.5 |
| 12 | Greece | 2.4 |
| 13 | Slovakia | 2.4 |
| 14 | Malta | 2.1 |
| 15 | Slovenia | 1.6 |
| 16 | Ireland | 1.5 |
| 17 | Latvia | 1.4 |
| 18 | Lithuania | 1.0 |
| 19 | Italy | 0.9 |
| 20 | Finland | 0.6 |
