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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

January 20, 2025
EU AND EURO AREA CONSUMER PRICE INDEX, DECEMBER AND ANNUAL 2024

Year-over-year (December 2024 vs December 2023)

The inflation rate rose to 2.7% in the European Union and to 2.4% in the Euro Area in December 2024.

The fastest inflation was reported in Romania while the slowest inflation rate was in Ireland.                                                                      

Energy prices grew 0.7% in the European Union and 0.1% in the Euro Area in December 2024.

Food price inflation decelerated to 2.1% for the European Union and to 1.5% in the Euro Area in December 2024.

Excluding the impacts of energy, food, alcohol and tobacco prices year-over-year inflation remained at 2.9% in the European Union and at 2.7% in the Euro Area for the fourth consecutive month in December 2024.

ANNUAL 2024

In the European Union, inflation slowed to 2.6% in 2024 from 6.4% in 2023. In the Euro Area, inflation was 2.4% in 2024, down from 5.4% in 2023.

Source: Eurostat; Eurostat Data



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