Mapped: Europe’s Inflation Divide in Early 2026

Mapped: Europe’s Inflation Divide in Early 2026

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Inflation pressures across Europe are becoming increasingly uneven in 2026, with major differences emerging between regions.

This map shows annual inflation rates across Europe as of April 2026, using the latest available data from Eurostat and the UK Parliament. While Southeastern Europe faces some of the continent’s highest inflation, several southern economies including Italy and Spain now have lower inflation than northern peers like Norway and Iceland.

Annual inflation measures how much consumer prices have changed over the previous 12 months, such as between April 2025 and April 2026.

Europe’s Inflation Divide

One surprise in Europe’s 2026 inflation data is that several southern economies now have lower inflation than parts of Northern Europe. Italy’s inflation rate matches Germany’s, while Spain’s sits below both Norway and Iceland despite longstanding concerns over Southern Europe’s fiscal stability.

This data table lists European countries based on their annual inflation rates as of early 2026.

Rank	Country	Inflation Rate (%) for Last 12 Months
1	Romania	9.0
2	Kosovo	6.5
3	Bulgaria	6.2
4	Croatia	5.4
5	Luxembourg	5.2
6	Iceland	5.0
7	Lithuania	4.9
8	North Macedonia	4.9
9	Greece	4.6
10	Georgia	4.6
11	Belgium	4.3
12	Slovakia	4.0
13	Ireland	3.6
14	Norway	3.6
15	Spain	3.5
16	Slovenia	3.4
17	Estonia	3.3
18	Austria	3.3
19	Portugal	3.3
20	United Kingdom	3.3
21	Poland	3.2
22	Serbia	3.1
23	Cyprus	3.0
24	Latvia	3.0
25	Germany	2.9
26	Italy	2.9
27	Montenegro	2.9
28	France	2.5
29	Netherlands	2.5
30	Malta	2.4
31	Finland	2.3
32	Hungary	2.1
33	Czechia	1.5
34	Sweden	1.5
35	Denmark	1.0
36	Switzerland	0.6

Among Europe’s major economies, France currently sits closest to the ECB’s 2% inflation target at 2.5%. A recent fall in the price of many manufactured goods has contributed to the country’s below-average inflation relative to many of its neighbors.

France’s widespread use of nuclear power has also helped the country avoid some of the energy challenges faced by peers like Germany in recent years. However, cost of living has nonetheless remained a key issue in back-to-back French elections.

Inflation Crisis in the Southeast

Southeastern Europe remains the continent’s clearest inflation hotspot, with several Balkan economies continuing to experience rapid price growth.

Bulgaria (6.2%), Croatia (5.4%), and especially Romania (9%) lead Europe in inflation, driven by rising costs in everything from everyday staples to housing prices. In these countries and their neighbors, austerity measures aimed at bringing down budget deficits are adding to the squeeze felt by many households.

Inflation can also temper economic growth forecasts. Croatia, for example, has been held up as a model European economy in recent years, averaging roughly 3% growth owing to high private consumption and tourism numbers. However, the country’s high inflation is reducing the effects of this growth and raising pressure on the country’s government.

ECB Interest Rates

Europe’s uneven inflation picture is creating a difficult challenge for policymakers.

While inflation remains elevated in parts of Southeastern Europe, several northern economies including Switzerland, Denmark, Sweden, and Czechia are already below the ECB’s 2% target.

That divergence makes it harder for central banks to balance inflation control against slowing economic growth across the continent.

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• Source: https://www.visualcapitalist.com/mapped-europes-inflation-in-2026/