Eurozone
The euro area has covered 21 member states since Bulgaria adopted the euro on 1 January 2026. Harmonised inflation (HICP) across the bloc is 3.2%, against the ECB's 2% target. That single number averages 21 very different economies under one monetary policy, so the country-by-country spread often says more than the headline.
Harmonised inflation (HICP) · annual rate
3.2%
vs 2% target
+1.2pp
Eurozone's harmonised inflation is 3.2% as of May 2026 — abovethe European Central Bank's 2% target by 1.2 percentage points.
Core (excl. energy & food)
2.6%
▲ 0.4pp vs prev
Energy
10.9%
▲ 0.1pp vs prev
Food
1.9%
▼ 0.5pp vs prev
Services
3.5%
▲ 0.5pp vs prev
Source: Eurostat (HICP) · data through May 2026 · modifications: none
See how each member state diverges on the inflation-by-country ranking →