Inflation rates by country and year
Data: World Bank, annual %. For information only — not financial advice.
Behind the curve
Turning points in Euro area
- 1973↑ Upward pressure
The first oil crisis ↗ — Wikipedia (opens in a new tab)
The 1973 oil shock sharply raised imported energy costs, adding to inflationary pressure in the mid-1970s.
- 1979↑ Upward pressure
The second oil crisis ↗ — Wikipedia (opens in a new tab)
The second oil shock pushed energy costs higher again, sustaining price pressure into the early 1980s.
- 2009↓ Downward pressure
The global financial crisis ↗ — Wikipedia (opens in a new tab)
The global financial crisis cut demand and commodity prices, lowering inflation in 2009.
- 2020↓ Downward pressure
The pandemic and falling demand ↗ — Wikipedia (opens in a new tab)
The pandemic weakened demand and energy prices, keeping inflation subdued.
- 2022↑ Upward pressure
Energy and food price surge ↗ — Wikipedia (opens in a new tab)
Surging energy and food prices after Russia's invasion of Ukraine pushed inflation higher in 2022.
These are selected historical influences, not a complete account of inflation. An upward-pressure event can coincide with a peak when its inflationary effect has already occurred or when other forces begin pushing inflation lower. The markers show the years in which events occurred, although their effects may extend into later years.