Inflation in the euro area
Data from December 2022. Extracted on 18 January 2023.
Next planned article update: 1 February 2023.
Highlights
Euro area annual inflation was 9.2 % in December 2022, down from 10.1 % in November 2022.

(%)
Source: Eurostat (prc_hicp_manr)
The figures presented in this article are the actual Harmonised Index of Consumer Prices (HICP).
Full article
Euro area annual inflation rate and its main components
Euro area annual inflation was 9.2 % in December 2022, down from 10.1 % in November 2022.
Looking at the main components of euro area inflation, energy had the highest annual rate in December (25.5 %, compared with 34.9 % in November), followed by food, alcohol & tobacco (13.8 %, compared with 13.6 % in November), non-energy industrial goods (6.4 %, compared with 6.1 % in November), and services (4.4 %, compared with 4.2 % in November).

(%)
Source: Eurostat (prc_hicp_inw) and (prc_hicp_manr)

(%)
Source: Eurostat (prc_hicp_manr)

(%)
Source: Eurostat (prc_hicp_manr)
Main components of inflation
Each of the main components contribute in varying degrees to the headline inflation in the euro area. In terms of weights for 2022, 100 % for the headline HICP, services is the largest component, accounting for around 41.7 % of household final monetary consumption expenditure in the euro area. It is followed by non-energy industrial goods with around 26.5 %.
Food, alcohol & tobacco and energy account for 20.9 % and 10.9 %, 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' prices.
The weights of the main components of the euro area for 2022 are presented in Figure 3. Table 2 shows their relative weights for 2022.

Source: Eurostat (prc_hicp_inw)
Direct access to
- HICP methodology (updated April 2021)
- HICP at constant tax rates
- News Release 113/2001 – First release of the Flash estimates
- News release 137/2012 – First release of the Flash estimate main components
- Harmonised indices of consumer prices (HICP), see a predefined selection under these links:
- Harmonised indices of consumer prices (ESMS metadata file - prc_hicp_esms)
- ECOICOP-HICP classification