August the 13th, 2025 – Inflation continues to be a pressing issue for Croatia, Romania and Belgium within the wider scope of the European Union (EU).
As Poslovni Dnevnik/Zrinka Gabelica Toplek writes, inflation across the EU has experienced significant fluctuations over the past four years. This reflects the challenges facing the entire region in the post-pandemic and increasingly geopolitically complex period.
Eurostat data, published in the latest edition of the publication “Key figures on Europe”, shows a clear decrease in the pace of inflation after a peak of 9.2% back in 2022. At the same time, the data shows that the problem of high inflation has not yet been fully resolved.
Back in 2021, the average inflation rate across the EU stood at 2.9%, which was considered relatively stable at the time. The following year, prices exploded, which was a major economic shock for consumers and markets alike. Primarily driven by the energy crisis, inflation by the time 2022 rolled around was additionally fuelled by disruptions in supply chains and the consequences of conflicts and sanctions related to the war in Ukraine, reached an alarming 9.2%.
Although the estimate for 2023 turned out to be better with growth of 6.4%, inflationary pressures failed to completely disappear, with the slowdown trend continuing in 2024 when the inflation rate fell to 2.6%. However, behind the average figure, there’s considerable heterogeneity among EU Member States.
Back in 2024, inflation had a debilitating impact on three countries that recorded price increases of more than 4%. Romania leads with 5.8%, followed by Belgium with 4.3%, while Croatia recorded an exactly 4% price increase, which speaks to the duration and severity of inflationary pressures in all of these economies.
While in some European countries monetary policy measures and energy strategies have managed to mitigate the rise in the cost of living, in the aforementioned countries, high prices continue to place a serious burden on consumers and economies.
This data points to the importance of strategic management of the EU’s national economies, which must take into account not only overall averages, but also specific situations that require precisely targeted policies. The various economic effects within the bloc show how an uneven recovery can cause all sorts of political and social tensions, further complicating the challenges facing the entire EU.
With rising energy prices, supply cuts and disruptions to global trade flows, consumers in the most heavily affected countries continue to feel pressure on their household budgets as central banks balance between controlling inflation and boosting economic growth.
In this context, the EU is currently facing the challenge of finding sustainable solutions that will include sectors sensitive to price fluctuations, while at the same time supporting competitiveness and social stability.
