Eurostat flash: euro-area inflation rises to 4% in October, Greece reaches 5.6%

Euro area inflation

Annual inflation in the euro area is expected to reach 4% in October 2026, according to Eurostat's preliminary estimate published on 4 November, up from 3.8% in September. That is the highest level in the bloc in three years and double the European Central Bank's 2% target. Core inflation, which excludes volatile energy and unprocessed food prices, held at 2.2% on an annual basis. Because the figures are preliminary, the 4% reading is a first estimate, and Eurostat's complete October data are still to be published.

Energy leads the rise

Energy is the component with the fastest annual increase, expected at 20.8% in October against 18.9% in September. The sources attribute the acceleration mainly to higher energy prices, which they link to the conflict in the Middle East. Services are projected at 3.3%, up from 3.2% in September, while food, alcohol and tobacco rose to 1.6% from 1.3%. Non-energy industrial goods reached 1.2%, compared with 1.1% a month earlier.

Greece moves to 5.6%

Greece's annual inflation rose to 5.6% in October from 5.1% in September, according to Eurostat's first estimate. Energy prices in Greece were 26.5% higher than a year earlier, up from 25.4% in September and 15.4% in August. Greek energy inflation runs 5.7 percentage points above the euro-area rate. The gap between Greek and euro-area headline inflation widened to 1.6 points, from 1.3 points in September.

Greece26.5%

Euro area20.8%

Greece

26.5 %

Euro area

20.8 %

Data from the article text

Services eased marginally in Greece, to 6.3% from 6.4%, and remain almost double the euro-area rate of 3.3%. Food, alcohol and tobacco prices returned to annual growth of 1.4% in Greece after a 0.1% decline in September, despite a price-reduction agreement being in force. Non-energy industrial goods rose 0.6% after no change in September, still about half the euro-area rate of 1.2%. A year earlier, in October 2025, Greek inflation stood at 1.6%.

Country ranking

Lithuania recorded the highest rate in the euro area at 6.1%, followed by Bulgaria at 6%. Italy and Greece both stand at 5.6%, with Cyprus at 5.4% and Belgium at 5.2%. At the other end of the ranking, Malta posted 2.3%, Germany 2.8%, Slovakia 2.9% and Latvia 3%.

Lithuania6.1%

Bulgaria6%

Italy5.6%

Greece5.6%

Cyprus5.4%

Belgium5.2%

Latvia3%

Slovakia2.9%

Germany2.8%

Malta2.3%

Lithuania

6.1 %

Bulgaria

6 %

Italy

5.6 %

Greece

5.6 %

Cyprus

5.4 %

Belgium

5.2 %

Latvia

3 %

Slovakia

2.9 %

Germany

2.8 %

Malta

2.3 %

Data from the article text