Euro area · Harmonised inflation & ECB policy

The euro area is running at 3.2% inflation — above the ECB's 2% target.

An independent tracker of official Eurostat & ECB data: every eurozone country, the rate path the market is pricing, and what it means.

Inflation by country

Harmonised annual rate (HICP), Latest: July 2026 · August 2026. Sorted highest to lowest. →

Eurozone inflation — common questions

What is the eurozone inflation rate right now?

Euro-area harmonised inflation (HICP) is 3.2% as of August 2026, measured against the European Central Bank's 2% target.

What is HICP?

HICP is the Harmonised Index of Consumer Prices — the EU-wide, like-for-like measure of consumer-price inflation. It is the figure the European Central Bank targets at 2% and the only measure that lets you compare inflation across euro-area countries on the same definition.

Why is inflation different in each eurozone country?

All 21 members share one ECB interest rate, but their consumer baskets, energy mix and stage of economic convergence differ. Lower-income, faster-converging members (the Baltics, Bulgaria) tend to run hotter, especially when energy and food prices move, while large mature economies sit nearer the average.

When is eurozone inflation data updated?

Eurostat publishes HICP monthly: a flash estimate at the start of the month and a final release around mid-month. euroflation re-syncs daily from the official source, and the final value always replaces the flash for the same month.

What is the ECB's inflation target?

The European Central Bank targets 2% inflation over the medium term, measured by the euro-area HICP. Its main policy rate, the deposit facility rate, is currently 2.50%.