The euro area annual inflation rate was 1.4% in March 2019, down from 1.5% in February 2019. A year earlier, the rate was 1.4%. European Union annual inflation was 1.6% in March 2019, stable compared to February 2019. A year earlier, the rate was 1.6%. These figures are published by Eurostat, the statistical office of the European Union.
The lowest annual rates were registered in Portugal (0.8%) and Greece (1.0%). The highest annual rates were recorded in Romania (4.2%), Hungary (3.8%) and the Netherlands (2.9%). Compared with February 2019, annual inflation fell in six Member States, remained stable in two and rose in nineteen.
In March 2019, the highest contribution to the annual euro area inflation rate came from energy (+0.52 percentage points, pp), followed by services (+0.51 pp), food, alcohol & tobacco (+0.34 pp) and non-energy industrial goods (+0.04 pp).
Inflation rates (%) measured by the HICP
|Annual rate||Monthly rate|
|Mar 18||Oct 18||Nov 18||Dec 18||Jan 19||Feb 19||Mar 19||Mar 19|
Euro area inflation rate (%), selected aggregates
|Annual rate||Monthly rate|
|2019||Mar 18||Oct 18||Nov 18||Dec 18||Jan 19||Feb 19||Mar 19||Mar 19|
|> energy, unprocessed food||854.0||1.3||1.3||1.1||1.1||1.2||1.2||1.0||1.2|
|> energy, food, alcohol & tobacco||708.5||1.1||1.2||0.9||0.9||1.1||1.0||0.8||1.3|
|> energy, seasonal food||873.5||1.4||1.3||1.1||1.1||1.2||1.2||1.0||1.1|
|Food, alcohol & tobacco||190.2||2.1||2.2||1.9||1.8||1.8||2.3||1.8||0.0|
|> processed food, alcohol & tobacco||145.4||2.4||2.1||2.0||1.7||1.8||2.1||2.0||0.5|
|> unprocessed food||44.7||1.2||2.4||1.8||1.8||1.8||2.9||1.1||-1.5|
|Non-energy industrial goods||263.8||0.1||0.2||0.2||0.2||0.3||0.4||0.1||3.0|
Contributions to the euro area annual inflation rate (pp), selected aggregates
|Mar 18||Oct 18||Nov 18||Dec 18||Jan 19||Feb 19||Mar 19|
|Food, alcohol & tobacco||0.41||0.42||0.38||0.34||0.36||0.44||0.34|
|> processed food, alcohol & tobacco||0.36||0.31||0.30||0.26||0.27||0.31||0.29|
|> unprocessed food||0.06||0.11||0.08||0.08||0.08||0.13||0.05|
|Non-energy industrial goods||0.03||0.07||0.06||0.06||0.08||0.09||0.04|
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 the United Kingdom for March 2019 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 March 2019, published on 1 April 2019, was 1.4%.
The next flash estimate of euro area inflation with data for April 2019 is scheduled for 3 May 2019.