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Statistics Explained

Data from March 2025. Extracted on 1 April 2025.

Next planned article update: 16 April 2025.

Inflation in the euro area

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Data from March 2025. Extracted on 1 April 2025.

Next planned article update: 16 April 2025.

Highlights

Euro area annual inflation was 2.2% in March 2025, down from 2.3% in February 2025.

Line chart with five lines showing the development of euro area annual inflation and its four main components monthly during the last two years until March 2025. The four components are: 1) food, alcohol and tobacco, 2) energy, 3) non-energy industrial goods, and 4) services.
Source: Eurostat (prc_hicp_manr)

The figures presented in this article are early estimates of the Harmonised Index of Consumer Prices (HICP).


Euro area annual inflation rate and its main components

Euro area annual inflation was 2.2% in March 2025, down from 2.3% in February 2025. Looking at the main components of euro area inflation, services is expected to have the highest annual rate in March (3.4%, compared with 3.7% in February), followed by food, alcohol & tobacco (2.9%, compared with 2.7% in February), non-energy industrial goods (0.6%, stable compared with February) and energy (-0.7%, compared with 0.2% in February).

Table on the euro area annual inflation and its main components. The ten rows show the following items: 1) all-items, 2) all-items excluding energy, 3) all-items excluding energy and unprocessed food, 4) all-items excluding energy, food, alcohol and tobacco, 5) food, alcohol and tobacco, 6) processed food, alcohol and tobacco, 7) unprocessed food, 8) energy, 9) non-energy industrial goods, and 10) services. Data is shown in eight columns: first, the item group's weight in 2025 in per mil, followed by the euro area annual inflation in the month March 2024 and finally one column per month for the six months from October 2024 to March 2025.
Table 1: Euro area annual inflation and its main components: weights for 2025 and rates for March 2024 and October 2024-March 2025
Source: Eurostat (prc_hicp_inw) and (prc_hicp_manr)


Line chart with five lines showing the development of euro area annual inflation and its four main components monthly during the last ten years until March 2025. The four components are: 1) food, alcohol and tobacco, 2) energy, 3) non-energy industrial goods, and 4) services.
Figure 1: Euro area annual inflation and its main components, March 2015 - March 2025
Source: Eurostat (prc_hicp_manr)


Line chart with five lines showing the development of euro area annual inflation and its four main components monthly during the last two years until March 2025. The four components are: 1) food, alcohol and tobacco, 2) energy, 3) non-energy industrial goods, and 4) services.
Figure 2: Euro area annual inflation and its main components, March 2023 - March 2025
Source: Eurostat (prc_hicp_manr)

Main components of inflation

Each of the main components contributes in varying degrees to the headline inflation in the euro area. In terms of weights for 2025, 100% for the headline HICP, services is the largest component, accounting for around 45.7% of household final monetary consumption expenditure in the euro area. It is followed by non-energy industrial goods with around 25.6%.

Food, alcohol & tobacco and energy account for 19.3% and 9.4%, respectively. Together, they comprise less than one third of euro area expenditure, but they can have significant impacts on the headline inflation as their prices tend to fluctuate significantly more than the other components.

The weights of the main components of the euro area for 2025 are presented in Figure 3. Table 2 shows their relative weights for 2025.

Pie chart showing the weights of the four main components of the euro area HICP in 2025.
Figure 3: Weights of the main components of the euro area HICP - 2025
Source: Eurostat (prc_hicp_inw)


Table on the weights of all-items, of the four main components and of 15 of their subcomponents of the euro area HICP in 2025.
Table 2: Weights of the components of the euro area HICP - 2025
Source: Eurostat (prc_hicp_inw)

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