Europe inflation rate comparison 2024

Since 2021, the large economies of Western Europe have been experiencing a surge in inflation, with inflation reaching as high as 11.84 percent in Italy during October 2022. During 2023 the rate of inflation in all these economies has fallen significantly, reaching as low as 0.67 percent in Italy and 3.17 percent in Germany. This inflationary episode is understood by economists to have been caused by several factors, notably the supply chain issues during the COVID-19 pandemic, pent-up consumer demand which was released after lockdowns ended, as well as policies of monetary and fiscal stimulus during the pandemic aimed at boosting economic activity.

Annual inflation rate of the consumer price index (CPI) among large economies in Western Europe from January 2010 to December 2024

Characteristic	United Kingdom	France	Germany	Italy	Spain
Dec 24	3.5%	1.32%	2.64%	1.25%	2.85%
Nov 24	3.5%	1.26%	2.22%	1.34%	2.41%
Oct 24	3.2%	1.23%	2.04%	0.92%	1.8%
Sep 24	2.6%	1.1%	1.61%	0.75%	1.47%
Aug 24	3.1%	1.83%	1.87%	1.08%	2.26%
Jul 24	3.1%	2.3%	2.31%	1.25%	2.77%
Jun 24	2.8%	2.17%	2.23%	0.84%	3.43%
May 24	2.8%	2.27%	2.4%	0.75%	3.63%
Apr 24	3%	2.19%	2.23%	0.84%	3.31%
Mar 24	3.8%	2.29%	2.15%	1.18%	3.21%
Feb 24	3.8%	2.96%	2.52%	0.75%	2.8%
Jan 24	4.2%	3.13%	2.89%	0.84%	3.41%
Dec 23	4.2%	3.71%	3.71%	0.59%	3.1%

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-2.5%0%2.5%5%7.5%10%12.5%15%

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Release date

February 2025

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Region

Europe, France, Germany, Italy, Spain, United Kingdom

Survey time period

January 2010 to December 2024

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Inflation and consumer price indexes in Italy

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