Home Latest News & Insights EURO AREA INFLATION FALLS TO 2.4%

EURO AREA INFLATION FALLS TO 2.4%

December 20, 2023
inflation

Euro area inflation falls, according to Eurostat, to 2.4% in November 2023, a significant drop from October’s 2.9%.

In the previous year, the rate was a high 10.1%. The EU saw a similar trend, with inflation declining to 3.1%, down from 3.6% in October and a stark contrast to last year’s 11.1%.

In Belgium, Denmark, and Italy, the lowest rates were observed. Conversely, Czechia, Hungary, Slovakia, and Romania experienced the highest. Inflation fell in most Member States.

Major contributors to euro area inflation were services and food, alcohol, and tobacco, while energy costs dipped. These euro area inflation trends are detailed in Eurostat’s report.