worldstat.us · Eurozone · Cycle layer · Indicator
Core HICP, y/y
Fetched 18 Sep 2026, 08:41 UTC
2.4 %
Normal 0.6 pp below the 3.0 % trigger · falling
As of Aug 2026 · Threshold > 3.0 %
Recession, Jan 2008 to Jun 2009Recession, Jul 2011 to Mar 2013Recession, Oct 2019 to Jun 20200123456Threshold > 3.0 %Trigger > 3.0 %20052010201520202025
2000 to 2026 · percent. Shaded bands are recessions.
What it is

Harmonised consumer prices excluding energy, food, alcohol and tobacco, as a change over twelve months. The ECB's preferred gauge of underlying inflation.

Threshold source: ECB target 2 %; one point above is where the ECB has historically held policy restrictive. How thresholds are chosen

Known weaknesses

Eurostat's flash estimate is revised two weeks later; the series here is the final print, so it is a fortnight behind the headline.