Eurozone Inflation (CPI)
Euro Area Consumer Price Inflation — Historical Chart
8.70%
▲ 70.59% YoYJan 2023
All-Time High
10.60%
All-Time Low
-0.60%
Data Since
1991
Source: FRED / EurostatShaded = NBER recessions
Eurozone consumer price inflation (HICP, month-over-month growth rate). The ECB's 2% symmetric inflation target was consistently undershot for a decade (2012-2021), justifying negative rates and massive QE. The 2022 energy shock drove eurozone CPI to 10.6% — the highest since the euro was created in 1999 — forcing the ECB's fastest rate hiking cycle in its 25-year history.