Following the easing of restrictions related to the coronavirus pandemic in 2022, inflation rates in many economic sectors in Europe spiked, with the food and non-alcoholic beverages and transport sectors being particularly affected. Additionally, Russia's invasion of Ukraine in February 2022 and the subsequent energy crisis caused a spike in the housing, water, electricity, gas, and other fuels sector, with the inflation rate in these products reaching 23.2 percent in October 2022. All economic sectors have experienced a significant disinflation during 2023, as higher interest rates set by the European Central Bank have begun to dampen economic activity and thereby slowing price increase.
Monthly inflation rate in the European Union from January 2019 to December 2023, by sector
Characteristic
Alcoholic beverages, tobacco and narcotics
Restaurants and hotels
Food and non-alcoholic beverages
Education
Personal care
Health
Recreation and culture
Furnishings, household equipment and routine household maintenance
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Eurostat. (January 31, 2024). Monthly inflation rate in the European Union from January 2019 to December 2023, by sector [Graph]. In Statista. Retrieved October 31, 2024, from https://www.statista.com/statistics/1452069/inflation-rate-eu-time-series-by-sector/
Eurostat. "Monthly inflation rate in the European Union from January 2019 to December 2023, by sector." Chart. January 31, 2024. Statista. Accessed October 31, 2024. https://www.statista.com/statistics/1452069/inflation-rate-eu-time-series-by-sector/
Eurostat. (2024). Monthly inflation rate in the European Union from January 2019 to December 2023, by sector. Statista. Statista Inc.. Accessed: October 31, 2024. https://www.statista.com/statistics/1452069/inflation-rate-eu-time-series-by-sector/
Eurostat. "Monthly Inflation Rate in The European Union from January 2019 to December 2023, by Sector." Statista, Statista Inc., 31 Jan 2024, https://www.statista.com/statistics/1452069/inflation-rate-eu-time-series-by-sector/
Eurostat, Monthly inflation rate in the European Union from January 2019 to December 2023, by sector Statista, https://www.statista.com/statistics/1452069/inflation-rate-eu-time-series-by-sector/ (last visited October 31, 2024)
Monthly inflation rate in the European Union from January 2019 to December 2023, by sector [Graph], Eurostat, January 31, 2024. [Online]. Available: https://www.statista.com/statistics/1452069/inflation-rate-eu-time-series-by-sector/