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 3.8%, 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
3.8%
vs 2% target
+1.8 pp
Harmonised inflation (HICP) is 3.8% as of September 2026 — that is 1.8 percentage points above the ECB's 2% target.
core (excluding energy and food)
2.5%
▲ 0.1 pp vs prev
energy
18.8%
▲ 4.5 pp vs prev
food
1.4%
▲ 0.3 pp vs prev
services
3.2%
▲ 0.2 pp vs prev
Source: Eurostat (HICP) · data through September 2026 · modifications: none
See how each member state diverges on the inflation-by-country ranking →