Inflation in the euro area
Data from November 2022. Extracted on 30 November 2022.
Next planned article update: 16 December 2022.
Euro area annual inflation rate and its main components
Euro area annual inflation is expected to be 10.0 % in November 2022, down from 10.6 % in October 2022.
Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in November (34.9 %, compared with 41.5 % in October), followed by food, alcohol & tobacco (13.6 %, compared with 13.1 % in October), non-energy industrial goods (6.1 %, stable compared with October) and services (4.2 %, compared with 4.3 % in October).
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.
Direct access to
- Harmonised indices of consumer prices (HICP), see a predefined selection under these links: