The euro area annual inflation rate was 2.2% in October 2018, up from 2.1% in September 2018. A year earlier, the rate was 1.4%. European Union annual inflation was also 2.2% in October 2018, up from 2.1% in September 2018. A year earlier, the rate was 1.7%. These figures are published by Eurostat, the statistical office of the European Union.
The lowest annual rates were registered in Denmark (0.7%), Portugal (0.8%) and Ireland (1.1%). The highest annual rates were recorded in Estonia (4.5%), Romania (4.2%) and Hungary (3.9%). Compared with September 2018, annual inflation fell in eight Member States, remained stable in five and rose in fourteen.
In October 2018, the highest contribution to the annual euro area inflation rate came from energy (+1.02 percentage points, pp), followed by services (+0.65 pp), food, alcohol & tobacco (+0.42 pp) and non-energy industrial goods (+0.11 pp).
Annual inflation rates (%) in October 2018, in ascending order
Italy: flash estimate for October 2018 (published on 31 October 2018)
Inflation rates (%) measured by the HICP
|Annual rate||Monthly rate|
|Oct 17||May 18||Jun 18||Jul 18||Aug 18||Sep 18||Oct 18||Oct 18|
c confidential at the time of publication
Annual inflation rate (%) in the euro area and the European Union
Euro area inflation rate (%), selected aggregates
|Annual rate||Monthly rate|
|2018||Oct 17||May 18||Jun 18||Jul 18||Aug 18||Sep 18||Oct 18||Oct 18|
|> energy, unprocessed food||828.2||1.1||1.3||1.2||1.3||1.2||1.1||1.2||0.1|
|> energy, food, alcohol & tobacco||707.3||0.9||1.1||0.9||1.1||0.9||0.9||1.1||0.1|
|> energy, seasonal food||862.6||1.1||1.3||1.2||1.3||1.1||1.1||1.2||0.1|
|Food, alcohol & tobacco||195.7||2.3||2.5||2.7||2.5||2.4||2.6||2.2||0.1|
|> processed food, alcohol & tobacco||121.0||2.1||2.6||2.6||2.4||2.4||2.2||2.2||0.1|
|> unprocessed food||74.8||2.8||2.4||2.9||2.6||2.5||3.2||2.1||0.1|
|Non-energy industrial goods||263.3||0.4||0.3||0.4||0.5||0.3||0.3||0.4||0.6|
Contributions to the euro area annual inflation rate (pp), selected aggregates
|Oct 17||May 18||Jun 18||Jul 18||Aug 18||Sep 18||Oct 18|
|Food, alcohol & tobacco||0.46||0.50||0.53||0.49||0.48||0.51||0.42|
|> processed food, alcohol & tobacco||0.25||0.31||0.31||0.30||0.29||0.27||0.27|
|> unprocessed food||0.21||0.18||0.22||0.20||0.19||0.24||0.16|
|Non-energy industrial goods||0.09||0.08||0.10||0.12||0.08||0.08||0.11|
The euro area consists of Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.
The European Union includes Belgium, Bulgaria, Czechia, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland, Sweden and the United Kingdom.
The euro area and European Union data refer to the respective country compositions at a specific point in time. New Member States are integrated into the aggregates using a chain index formula.
Data for Italy for October 2018 were confidential at the time of publication.
Methods and definitions
The annual rate measures the change of the Harmonised Indices of Consumer Prices (HICP) between a month and the same month of the previous year, and the monthly rate compares the indices between the two latest months.
A contribution shows how much of the annual inflation rate comes from a particular component of the HICP. The contributions are calculated according to a method which ensures their additivity (allowing for rounding).
Revisions and timetable
A flash estimate of euro area inflation is issued at the end of each reference month. The euro area flash estimate for October 2018, published on 31 October 2018, was 2.2%.
The next flash estimate of euro area inflation with data for November 2018 is scheduled for 30 November 2018.
Data for the United Kingdom for September 2018 were not available in time for the HICP release of 17 October 2018, and EU totals were calculated using Eurostat estimates. Since then, the UK data have become available and as a result the EU annual rate of change for September 2018 was revised from 2.2% to 2.1%.