Euro-area · Harmonised inflation & ECB policy
An independent tracker of official Eurostat & ECB data: every eurozone country, the rate path the market is pricing, and what it means.
Harmonised annual rate (HICP), May 2026. Sorted highest to lowest — full comparison →
| 12-mo trend | |||||
|---|---|---|---|---|---|
| 🇧🇬Bulgaria | 6.3% | 6.0% | ▲ 0.3 | ▲ 3.4 | ▲ |
| 🇱🇹Lithuania | 5.1% | 4.9% | ▲ 0.2 | ▲ 2.1 | ▲ |
| 🇬🇷Greece | 4.9% | 4.6% | ▲ 0.3 | ▲ 1.6 | ▲ |
| 🇭🇷Croatia | 4.9% | 5.4% | ▼ 0.5 | ▲ 0.6 | ▲ |
| 🇱🇺Luxembourg | 4.5% | 5.2% | ▼ 0.7 | ▲ 2.4 | ▲ |
| 🇧🇪Belgium | 4.0% | 4.2% | ▼ 0.2 | ▲ 1.2 | ▲ |
| 🇸🇰Slovakia | 4.0% | 4.1% | ▼ 0.1 | ▼ 0.3 | ▼ |
| 🇸🇮Slovenia | 3.8% | 3.4% | ▲ 0.4 | ▲ 1.9 | ▲ |
| 🇦🇹Austria | 3.7% | 3.4% | ▲ 0.3 | ▲ 0.7 | ▲ |
| 🇪🇪Estonia | 3.6% | 3.2% | ▲ 0.4 | ▼ 1.0 | ▼ |
| 🇪🇸Spain | 3.6% | 3.5% | ▲ 0.1 | ▲ 1.6 | ▲ |
| 🇨🇾Cyprus | 3.5% | 3.0% | ▲ 0.5 | ▲ 3.1 | ▲ |
| 🇮🇪Ireland | 3.5% | 3.6% | ▼ 0.1 | ▲ 2.1 | ▲ |
| 🇱🇻Latvia | 3.5% | 2.9% | ▲ 0.6 | ▼ 0.2 | ▼ |
| 🇳🇱Netherlands | 3.4% | 2.5% | ▲ 0.9 | ▲ 0.5 | ▲ |
| 🇮🇹Italy | 3.2% | 2.8% | ▲ 0.4 | ▲ 1.5 | ▲ |
| 🇵🇹Portugal | 3.1% | 3.3% | ▼ 0.2 | ▲ 1.4 | ▲ |
| 🇫🇮Finland | 2.8% | 2.4% | ▲ 0.4 | ▲ 0.8 | ▲ |
| 🇫🇷France | 2.8% | 2.5% | ▲ 0.3 | ▲ 2.2 | ▲ |
| 🇩🇪Germany | 2.7% | 2.9% | ▼ 0.2 | ▲ 0.6 | ▲ |
| 🇲🇹Malta | 2.1% | 2.5% | ▼ 0.4 | ▼ 0.6 | ▼ |
On 1 January 2026 Bulgaria became the 21st member of the euro area. Because the lev was already pegged to the euro, the monetary shock is small — but the inflation story is worth understanding.