Announcement: changes to the HICP
As of 4 February 2026, several methodological changes have taken effect in the HICP. The index is compiled according to the new European Classification of Individual Consumption According to Purpose version 2, aligned with the UN COICOP 2018 classification. Games of chance are included in the HICP as part of Recreation services under the division of Recreation, sport and culture. The index reference period is also updated to 2025=100.
Overview
Euro area annual inflation is expected to be 1.9% in February 2026, up from 1.7% in January according to a flash estimate from Eurostat, the statistical office of the European Union.
Looking at the main components of euro area inflation, services is expected to have the highest annual rate in February (3.4%, compared with 3.2% in January), followed by food, alcohol & tobacco (2.6%, stable compared with January), non-energy industrial goods (0.7%, compared with 0.4% in January) and energy (-3.2%, compared with -4.0% in January).
Tables
Euro area annual inflation and its components (%)
Weights (‰)
Annual rate
Monthly rate
2026
Feb 25
Sept 25
Oct 25
Nov 25
Dec 25
Jan 26
Feb 26
Feb 26
All-items HICP
1000.0
2.3
2.2
2.1
2.1
2.0
1.7
1.9e
0.7e
All-items excluding:
energy
909.7
2.6
2.5
2.4
2.4
2.4
2.3
2.4e
0.7e
energy, unprocessed food
858.3
2.6
2.4
2.4
2.4
2.3
2.2r
2.3e
0.7e
energy, food, alcohol & tobacco
720.8
2.6
2.4
2.4
2.4
2.3
2.2
2.4e
0.8e
Food, alcohol & tobacco
188.9
2.7
3.0
2.5
2.4
2.5
2.6
2.6e
0.3e
processed food, alcohol & tobacco
137.5
2.7
2.7
2.4
2.3
2.1
2.0
1.8e
0.1e
unprocessed food
51.4
2.7
3.9
2.7
2.7
3.5
4.2
4.6e
1.0e
Energy
90.3
0.2
-0.4
-0.9
-0.5
-1.9
-4.0
-3.2e
0.6e
Non-energy industrial goods
252.5
0.6
0.7
0.6
0.5
0.3
0.4
0.7e
0.7e
Services
468.3
3.7
3.2
3.4
3.5
3.4
3.2
3.4e
0.8e
e estimated
r revised
Source dataset: prc_hicp_minr
Inflation rates (%) measured by the HICP
Annual rate
Monthly rate
Feb 25
Sept 25
Oct 25
Nov 25
Dec 25
Jan 26
Feb 26
Feb 26
Belgium
4.4
2.7
2.5
2.6
2.2
1.4
1.4
2.5
Bulgaria
3.9
4.0
3.8
3.7
3.5
2.3
2.0e
0.1e
Germany
2.6
2.3
2.3
2.5
2.0
2.1
2.0e
0.4e
Estonia
5.1
5.3
4.5
4.7
4.0
3.8
3.2
0.8
Ireland
1.5
2.7
2.8
3.1
2.7
2.5
2.4e
0.7e
Greece
3.0
1.8
1.6
2.8
2.9
2.9
3.0
0.2
Spain
2.9
3.0
3.2
3.2
3.0
2.4
2.5e
0.4e
France
0.9
1.1
0.8
0.8
0.7
0.4
1.1
0.8
Croatia
4.7
4.6
4.0
4.3
3.8
3.6
3.9e
0.3e
Italy
1.7
1.7
1.3
1.1
1.2
1.0
1.6e
0.6e
Cyprus
2.3
0.0
0.2
0.1
0.1
1.2
0.9
0.0
Latvia
3.7
4.2
4.3
3.8
3.4
2.9
2.4e
0.2e
Lithuania
3.2
3.7
3.7
3.6
3.2
2.8
3.2
0.9
Luxembourg
1.9
3.1
3.0
3.5
3.3
1.6
1.8e
1.4e
Malta
2.0
2.4
2.5
2.4
2.5
2.3
2.2e
0.3e
Netherlands
3.5
3.0
3.0
2.6
2.7
2.2p
2.3e
1.5e
Austria
3.4
3.9
4.0
4.0
3.8
2.0
2.3e
0.8e
Portugal
2.5
1.9
2.0
2.1
2.4
1.9
2.1e
0.1e
Slovenia
1.9
2.8
3.1
2.4
2.6
2.4
2.8
0.6
Slovakia
4.1
4.6
3.9
3.9
4.1
4.3
4.0e
0.1e
Finland
1.5
2.2
1.4
1.5
1.7
1.0
1.8e
1.2e
p provisional
e estimated
Source dataset: prc_hicp_minr
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 February 2026 is scheduled for 18 March 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.
For more information