Euro inflation rate in 2024: 0.76%

Inflation in 2024 and its effect on euro value

€1 in 2023 is equivalent in purchasing power to about €1.01 today. The euro had an average inflation rate of 0.76% in the last 12 months. As a result, the real value of a euro has been decreasing recently. Purchasing power decreased by 0.76% in 2024 compared to 2023. On average, you would have to spend 0.76% more money in 2024 than in 2023 for the same item.

This means that today's prices are 1.01 times as high as average prices since 2023, according to the European Central Bank consumer price index. A euro today only buys 99.010% of what it could buy back then.

The inflation rate in 2023 was 6.28%. The current inflation rate compared to the end of last year is now 0.76%. If this number holds, €1 today will be equivalent in buying power to €1.01 next year.

Inflation rate is calculated by change in the consumer price index (CPI). The CPI in 2024 is 127.77. It was 126.81 in the previous year, 2023. The difference in CPI between the years is used by the European Central Bank to officially determine inflation.

You may use the following MLA citation for this page: “Inflation Rate in 2024 | Euro Inflation Calculator.” Official Inflation Data, Alioth Finance, 15 Dec. 2024, https://www.officialdata.org/Euro-inflation-rate-in-2024.

Special thanks to QuickChart for their chart image API, which is used for chart downloads.

About the author

Ian Webster is an engineer and data expert based in San Mateo, California. He has worked for Google, NASA, and consulted for governments around the world on data pipelines and data analysis. Disappointed by the lack of clear resources on the impacts of inflation on economic indicators, Ian believes this website serves as a valuable public tool. Ian earned his degree in Computer Science from Dartmouth College.

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