Change in consumer prices in member states of the European Union, January 2026
Released: 5 March 2026
Harmonised index of consumer prices (HICP)
According to the harmonised index of consumer prices, ensuring the comparability of inflation in EU member countries, consumer prices were 2.0% higher on average in the European Union in January 2026 than in the same period of the previous year. Within the EU, inflation was highest in Romania (8.5%), the lowest in France and Denmark (0.4% and 0.6%). Hungary was in the mid-course among the member states, with an average consumer price rise of 2.3%. Among the Visegrád countries price increases of 4.3% in Slovakia, 2.5% in Poland and 1.2% in Czechia occurred.
Compared to the previous month, consumer prices lessened by 0.4% in the EU as a whole and grew by 0.6% in Hungary. Out of the other three Visegrád countries, price levels increased between 0.7% and 2.0% within a month.
National consumer price index (CPI)
According to national consumer price indices published on the websites of the national statistical offices – only suitable for international comparisons to a limited extent –, too, consumer prices rose the most (by 9.6%) in Romania in January 2026 compared to a year earlier. In Hungary, inflation was 2.1% according to this methodology.
In Hungary, food was 2.6% more expensive on average than in January 2025. Not considering catering food prices dropped by 2.0%. The highest price increases of 10–12% were recorded for bakery products, fresh domestic and tropical fruits, buffet items, chocolate and cocoa. At the same time margarine; canned meat; lard; milk; dairy products; potatoes; butter, buttercream; flour and pork became significantly, by 10–30%, cheaper, furthermore, the prices of other foods (for example cheese, sugar and poultry) lessened, too, however to a lesser extent than those of the previous items.
The consumer price of electricity, gas and other fuels rose by 6.2%, within it 13% more was to be paid for natural and manufactured gas and 1.9% more for electricity than in the same month of the previous year. Motor fuels cost 12% less, alcoholic beverages and tobacco as well as consumer durable prices went up by 6.3% and 2.9%. Service charges surpassed overall the one year earlier level by 5.0%, within it theatre ticket prices and recreation abroad went up the most (by 19% and 18%).
The National Bank of Hungary forecast an inflation rate of 3.2% for 2026 in its Inflation Report in December. The annual average rate of consumer price rise in the European Union may be 2.1% according to the expectations of the European Commission.
Table 1
Changes in consumer prices in member states of the European Union, January 2026
Countries
CPI
HICP
compared with same month of previous year, %
compared with previous month, %
EU average
..
2.0
–0.4
Euro area
..
1.7
–0.6
Belgium
1.1
1.4
–1.6
Bulgaria
3.6
2.3
0.6
Czechia
1.6
1.2
0.9
Denmark
0.8
0.6
–0.7
Germany
2.1
2.1
–0.1
Estonia
3.7
3.8
0.8
Ireland
2.7
2.5
–1.0
Greece
2.6
2.9
–0.7
Spain
2.3
2.4
–0.8
France
0.3
0.4
–0.4
Croatia
3.4
3.6
0.1
Italy
1.0
1.0
–1.0
Cyprus
0.5
1.2
–0.3
Latvia
2.9
2.9
–0.1
Lithuania
3.1
2.8
1.2
Luxembourg
1.3
1.6
–1.3
Hungary
2.1
2.3
0.6
Malta
..
2.3
–0.6
Netherlands
2.4
2.2
–1.3
Austria
2.0
2.0
–0.8
Poland
2.2
2.5
0.7
Portugal
1.9
1.9
–1.0
Romania
9.6
8.5
0.8
Slovenia
2.6
2.4
–0.5
Slovakia
4.0
4.3
2.0
Finland
–0.2
1.0
–0.1
Sweden
0.5
2.0
0.0
Source: Euro indicators - Inflation, January 2026 and websites of the national statistical offices of the member states.
Download date: 26 February 2026.
Figure 1
Figure 2
Figure 3
Released: 5 March 2026
Harmonised index of consumer prices (HICP)
According to the harmonised index of consumer prices, ensuring the comparability of inflation in EU member countries, consumer prices were 2.0% higher on average in the European Union in January 2026 than in the same period of the previous year. Within the EU, inflation was highest in Romania (8.5%), the lowest in France and Denmark (0.4% and 0.6%). Hungary was in the mid-course among the member states, with an average consumer price rise of 2.3%. Among the Visegrád countries price increases of 4.3% in Slovakia, 2.5% in Poland and 1.2% in Czechia occurred.
Compared to the previous month, consumer prices lessened by 0.4% in the EU as a whole and grew by 0.6% in Hungary. Out of the other three Visegrád countries, price levels increased between 0.7% and 2.0% within a month.
National consumer price index (CPI)
According to national consumer price indices published on the websites of the national statistical offices – only suitable for international comparisons to a limited extent –, too, consumer prices rose the most (by 9.6%) in Romania in January 2026 compared to a year earlier. In Hungary, inflation was 2.1% according to this methodology.
In Hungary, food was 2.6% more expensive on average than in January 2025. Not considering catering food prices dropped by 2.0%. The highest price increases of 10–12% were recorded for bakery products, fresh domestic and tropical fruits, buffet items, chocolate and cocoa. At the same time margarine; canned meat; lard; milk; dairy products; potatoes; butter, buttercream; flour and pork became significantly, by 10–30%, cheaper, furthermore, the prices of other foods (for example cheese, sugar and poultry) lessened, too, however to a lesser extent than those of the previous items.
The consumer price of electricity, gas and other fuels rose by 6.2%, within it 13% more was to be paid for natural and manufactured gas and 1.9% more for electricity than in the same month of the previous year. Motor fuels cost 12% less, alcoholic beverages and tobacco as well as consumer durable prices went up by 6.3% and 2.9%. Service charges surpassed overall the one year earlier level by 5.0%, within it theatre ticket prices and recreation abroad went up the most (by 19% and 18%).
The National Bank of Hungary forecast an inflation rate of 3.2% for 2026 in its Inflation Report in December. The annual average rate of consumer price rise in the European Union may be 2.1% according to the expectations of the European Commission.
Changes in consumer prices in member states of the European Union, January 2026
| Countries | CPI | HICP | |
|---|---|---|---|
| compared with same month of previous year, % | compared with previous month, % | ||
| EU average | .. | 2.0 | –0.4 |
| Euro area | .. | 1.7 | –0.6 |
| Belgium | 1.1 | 1.4 | –1.6 |
| Bulgaria | 3.6 | 2.3 | 0.6 |
| Czechia | 1.6 | 1.2 | 0.9 |
| Denmark | 0.8 | 0.6 | –0.7 |
| Germany | 2.1 | 2.1 | –0.1 |
| Estonia | 3.7 | 3.8 | 0.8 |
| Ireland | 2.7 | 2.5 | –1.0 |
| Greece | 2.6 | 2.9 | –0.7 |
| Spain | 2.3 | 2.4 | –0.8 |
| France | 0.3 | 0.4 | –0.4 |
| Croatia | 3.4 | 3.6 | 0.1 |
| Italy | 1.0 | 1.0 | –1.0 |
| Cyprus | 0.5 | 1.2 | –0.3 |
| Latvia | 2.9 | 2.9 | –0.1 |
| Lithuania | 3.1 | 2.8 | 1.2 |
| Luxembourg | 1.3 | 1.6 | –1.3 |
| Hungary | 2.1 | 2.3 | 0.6 |
| Malta | .. | 2.3 | –0.6 |
| Netherlands | 2.4 | 2.2 | –1.3 |
| Austria | 2.0 | 2.0 | –0.8 |
| Poland | 2.2 | 2.5 | 0.7 |
| Portugal | 1.9 | 1.9 | –1.0 |
| Romania | 9.6 | 8.5 | 0.8 |
| Slovenia | 2.6 | 2.4 | –0.5 |
| Slovakia | 4.0 | 4.3 | 2.0 |
| Finland | –0.2 | 1.0 | –0.1 |
| Sweden | 0.5 | 2.0 | 0.0 |
Source: Euro indicators - Inflation, January 2026 and websites of the national statistical offices of the member states.
Download date: 26 February 2026.