Average inflation measured by CPI reached 1.94 % in 2020 in European Union, according to the National Statistical Office. This is 11,816 % more than in the previous year.
Historically, average inflation measured by CPI in European Union reached an all time high of 1.94 % in 2020 and an all time low of < -0.001 % in 2015. When compared to European Union's main peers, average inflation measured by CPI in China amounted to 2.65 %, 1.66 % in Japan, 4.80 % in Russia and 2.30 % in USA in 2020.
European Union has been ranked 146th within the group of 173 countries we follow in terms of average inflation measured by CPI, 10 places behind the position seen 10 years ago.
Inflation as measured by the consumer price index (CPI) reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly.