EU: energy inflation rate by commodity 2024

The inflation rates of various energy commodities in the European Union began to decrease in late 2022 after skyrocketing earlier that year. Liquid fuels' inflation rate stood at -12 percent in November 2024 after having seen the steepest increase in June 2022 at 88 percent. These developments occurred following Russia's invasion of Ukraine, which has been the cause of uncertainty over Europe's security of gas supply, as well as intense energy price volatility. In 2024, the electricity and gas prices showed an increasing trend.

Harmonized index of consumer prices (HICP) energy inflation rate in the European Union from January 2019 to November 2024, by commodity

Characteristic	Energy	Electricity	Gas	Liquid fuels
Nov '24	-1.2%	3.6%	4.6%	-12.1%
Oct '24	-3.3%	2%	3.8%	-15.1%
Sep '24	-4.7%	1.3%	3%	-15.2%
Aug '24	-2.1%	1.3%	2.3%	-9%
Jul '24	1.8%	2%	1.6%	3.8%
Jun '24	0.2%	-0.4%	-2.9%	2.8%
May '24	0.5%	-4.9%	3.6%	-2.3%
Apr '24	-0.5%	-4.1%	-0.2%	-3.2%
Mar '24	-1.6%	-3.3%	-3.2%	-3.8%
Feb '24	-3.3%	-5.5%	-2.6%	-6.4%
Jan '24	-5.4%	-8.8%	-9.8%	-6.4%
Dec '23	-5%	-10%	-12.7%	-8.5%
Nov '23	-8.9%	-10.2%	-20.9%	-13.1%
Oct '23	-8.9%	-10.3%	-22.6%	-15.8%
Sep '23	-3.6%	-5.6%	-15.8%	-12.2%
Aug '23	-2%	-3%	-9.7%	-12.7%
Jul '23	-4.4%	1.2%	-1.7%	-23.8%
Jun '23	-4.1%	2.9%	6.1%	-23.9%
May '23	-0.3%	6%	7.7%	-17.1%
Apr '23	4.4%	7.9%	8.5%	-8.9%
Mar '23	2.6%	7.5%	11.9%	-13.4%
Feb '23	16.6%	17.2%	23.5%	21%
Jan '23	20.6%	19.4%	30.2%	35.3%
Dec'22	25.5%	29.6%	48.6%	42.7%
Nov'22	33.3%	35.1%	64.4%	51.4%
Oct'22	38.7%	38.4%	73.6%	66.6%
Sep '22	39.4%	36.7%	70.9%	79.1%
Aug '22	37.5%	35.7%	62.5%	78.9%
Jul '22	38.3%	31.1%	52.2%	82.9%
Jun '22	41.1%	29.7%	51.4%	88.1%
May '22	37.7%	28.8%	52.4%	77.3%
Apr '22	35.6%	29.1%	51.4%	77.4%
Mar '22	40.2%	34.6%	48.5%	88.2%
Feb '22	28.7%	28.5%	40.3%	42.6%
Jan '22	27%	23.7%	40.7%	38.7%
Dec '21	24.6%	20.6%	27.2%	40.3%
Nov '21	25.9%	15.9%	26%	56.7%
Oct '21	22.6%	14.3%	22.4%	52.7%
Sep '21	16.8%	10.9%	15.8%	35.6%
Aug '21	14.9%	9.3%	14.1%	26.8%
Jul '21	14%	8.5%	12.6%	25.8%
Jun '21	12.2%	8.1%	5.2%	22.3%
May '21	12.9%	8%	4.1%	22.6%
Apr '21	10.5%	7.4%	3.5%	12.5%
Mar '21	4.5%	4%	0.4%	5%
Feb '21	-1.1%	2.1%	-9%	-8.1%
Jan '21	-3.5%	4%	-18%	-17.4%
Dec '20	-6.1%	0.8%	-35%	-22.1%
Nov '20	-7.5%	-0.1%	-36%	-27.1%
Oct '20	-7.4%	-0.5%	-35%	-28.2%
Sep '20	-7.5%	-0.2%	-5.5%	-27.8%
Aug '20	-7.3%	-0.9%	-5.6%	-23.6%
Jul '20	-7.9%	-1.9%	-5.6%	-22.7%
Jun '20	-8.8%	-1.2%	-5.3%	-22.5%
May '20	-11.4%	-1.5%	-5.2%	-27.8%
Apr '20	-9.3%	-1.8%	-5.1%	-22%
Mar '20	-3.5%	0.7%	-3.6%	-14.3%
Feb '20	0.4%	1.2%	-3.1%	-5.2%
Jan '20	2.4%	0.6%	-2.7%	3.4%
Dec '19	0.5%	0.5%	-3.3%	-1.1%
Nov '19	-2.5%	1%	-3.7%	-10.7%
Oct '19	-2.7%	1.1%	-3.4%	-8.2%
Sep '19	-1.3%	1.4%	-0.5%	-3.7%
Aug '19	-0.1%	2.1%	-0.1%	-0.6%
Jul '19	0.8%	2.6%	0.3%	1.2%
Jun '19	1.8%	3.3%	5%	0.3%
May '19	4%	3.4%	5.6%	6.2%
Apr '19	5.3%	4.4%	5.7%	9.8%
Mar '19	4.7%	3%	5.9%	12.2%
Feb '19	3.2%	2.8%	5.4%	10.8%
Jan '19	2.4%	3.7%	5.3%	5.2%

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Release date

December 2024

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Survey time period

January 2019 to November 2024

Supplementary notes

According to the source, the Harmonized Indices of Consumer Prices (HICP) measure changes in the prices of consumer goods and services over time. These indices provide comparable measures of inflation.

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