2026.04.3009:03:43UTC+00Euro Area Inflation Rate Soars to 2023 High

Euro area annual inflation rose to 3.0% in April 2026, its highest level since September 2023, up from 2.6% in March and slightly above market expectations of 2.9%, according to a preliminary estimate. Energy prices surged 10.9%, the sharpest increase since February 2023, largely reflecting the impact of the conflict in the Middle East. Price growth also picked up for non-energy industrial goods (0.8% vs. 0.5%) and for food, alcohol, and tobacco (2.5% vs. 2.4%). By contrast, services inflation eased to 3.0% from 3.2%, and core inflation—which excludes volatile energy components—edged down to 2.2% from 2.3%. Among the largest economies in the euro area, inflation accelerated in Germany (2.9% vs. 2.8%), France (2.5% vs. 2.0%), Italy (2.9% vs. 1.6%), and Spain (3.5% vs. 2.4%).