The euro area annual inflation rate was 1.9% in November 2018, down from 2.2%in October. A year earlier, the rate was 1.5%. European Union annual inflation was 2.0% in November 2018, down from 2.2% in October. A year earlier, the rate was 1.8%. These figures are published by Eurostat, the statistical office of the European Union.
The lowest annual rates were registered in Denmark (0.7%), Ireland (0.8%) and Portugal (0.9%). The highest annual rates were recorded in Estonia, Hungary and Romania (all 3.2%). Compared with October 2018, annual inflation fell in twenty-five Member States, remained stable in one and rose in one.
In November 2018, the highest contribution to the annual euro area inflation rate came from energy (+0.88 percentage points), followed by services (+0.57 pp), food, alcohol & tobacco (+0.38pp) and non-energy industrial goods (+0.11 pp).
Annual inflation rates (%) in November 2018, in ascending order
Data for the United Kingdom are for October 2018.
Annual inflation rate (%) in the euro area and the European Union
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 euroarea 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 the United Kingdom for November 2018 were not available in time for publication. Due to this fact, the EU totals have been calculated using Eurostat estimates.
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 November 2018,published on 30 November 2018, was 2.0%.
The next flash estimate of euro area inflation with data for December 2018 is scheduled for 4 January 2019.