Euro area inflation · Flash estimate · October 2026
What the first October inflation figures show
Headline inflation moved higher again, led by energy. Services, food and goods also edged up, while the broader underlying measures were stable.
Published 4 November 2026 · Coverage: 21 euro-area countries · Eurostat flash estimate
The broad picture
A higher headline, still driven mainly by energy.
Euro-area inflation rose to 4.0% in October from 3.8% in September. Energy strengthened further and remained the largest source of pressure. Services, food and non-energy industrial goods moved up slightly, while the main underlying measures were unchanged.
Annual HICP inflation
Lithuania recorded the highest rate at 6.1%, closely followed by Bulgaria at 6.0%. Malta had the lowest reading at 2.3%, while the euro-area aggregate stood at 4.0%.
Energy inflation
Energy inflation reached 39.5% in Belgium and exceeded 30% in Lithuania and Italy. Malta remained the only country with a zero rate.
Services inflation
The euro-area rate increased to 3.3%, with wide country dispersion. Bulgaria reached 7.9%, while Estonia and Finland recorded the lowest rates.
Non-energy industrial goods
Goods inflation edged up to 1.2% for the euro area. Slovakia led at 2.6%, while Croatia, Slovenia and Cyprus recorded annual declines.
Core inflation
Excluding energy, food, alcohol and tobacco, euro-area inflation remained at 2.5%. Greece and Bulgaria had the highest rates, while Estonia and Finland were lowest.
All items excluding energy
Without energy, the euro-area rate remained at 2.3%. Bulgaria recorded the highest reading at 4.0%, while Latvia was lowest at 1.0%.
Excluding energy and unprocessed food
This broader underlying measure remained at 2.2% for the euro area. Bulgaria led at 4.0%, followed by Greece, while Slovenia was lowest at 1.4%.
Food, alcohol and tobacco
The euro-area rate rose to 1.6%. Cyprus reached 4.5%, while the Netherlands, Slovakia and Latvia recorded lower prices than a year earlier.
Processed food, alcohol and tobacco
Processed food inflation was 0.5% for the euro area. Luxembourg and Finland led at 2.7%, while five countries registered outright price declines.
Unprocessed food
Unprocessed food inflation increased to 4.6% for the euro area. Cyprus reached 10.0%, while five countries recorded annual price declines.
Reading the first estimate
October’s increase remained energy-led, while underlying inflation was stable.
Energy accounts for most of the headline acceleration. Services, food and goods firmed slightly, but the main underlying measures were unchanged. The country rankings continue to show substantial differences across the monetary union.
- Annual HICP rates compare October 2026 with October 2025.
- October figures are Eurostat flash estimates.
- Country coverage is EA21, including Bulgaria from 2026.
- The complete October dataset is due on 18 November 2026.