Euro area annual inflation is expected to be 3.2% in May 2026, up from 3.0% in April according to a flash estimate from Eurostat, the statistical office of the European Union.
Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in May (10.9%, compared with 10.8% in April), followed by services (3.5%, compared with 3.0% in April), food, alcohol & tobacco (2.0%, compared with 2.4% in April) and non-energy industrial goods (0.9%, compared with 0.8% in April).
Notes for users
Revisions and timetable
The euro area inflation flash estimate is issued at the end of each reference month.
The complete set of harmonised indices of consumer prices (HICP) for the euro area, EU and Member States is released around the middle of the month following the reference month.
The next release with full data for May 2026 is scheduled for 17 June 2026.
Methods and definitions
Annual inflation is the price change of consumer goods and services between the current month and the same month of the previous year. Monthly inflation is the price change between the current month and the previous month.
Geographical information
Up to December 31, 2025, the euro area included Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland (EA20). From 1 January 2026, the euro area also includes Bulgaria (EA21).
The aggregate data series published in this Euro indicator release refer to the evolving composition of the euro area. Thus, Euro indicator data for months up to December 2025 represent EA20 series, while Euro indicator data for January 2026 onwards represent EA21 series. Changes in the composition of the euro area are incorporated using a chain index formula.
