The Global Restaurants and Hotels HICP data indicates significant variations in year-on-year changes across countries. In 2024, Hungary led with a 23.8% change, while Luxembourg recorded the lowest at 4.5%. Countries like Lithuania, Czech Republic, and Poland showed substantial increases, all above 14%. Meanwhile, Western Europe economies like Germany and Italy exhibited more moderate changes, below 9%. The data suggests divergence in hospitality inflation trends between Central/Eastern and Western Europe, with higher growth rates in the former.
Looking ahead, factors such as economic recovery, tourism demand, and inflationary pressures will shape future HICP trends. Countries witnessing stronger inflation may see policy interventions, potentially moderating future increases. Monitoring economic conditions, fiscal policies, and global events will be crucial in anticipating shifts in these hospitality sectors.
Top countries in Restaurants and Hotels HICP by Country
| # | 10 Countries | Percent, Change on Previous Period | Last Year | |
|---|---|---|---|---|
| 1 | 1 Hungary | 23.8 | 2023 | View data |
| 2 | 2 Lithuania | 14.8 | 2023 | View data |
| 3 | 3 Czech Republic | 14.6 | 2023 | View data |
| 4 | 4 Poland | 14.6 | 2023 | View data |
| 5 | 5 Slovakia | 14.3 | 2023 | View data |
| 6 | 6 Latvia | 13.5 | 2023 | View data |
| 7 | 7 Portugal | 12.3 | 2023 | View data |
| 8 | 8 Iceland | 11.9 | 2023 | View data |
| 9 | 9 Austria | 11.6 | 2023 | View data |
| 10 | 10 Estonia | 9.8 | 2023 | View data |