In 2023, Estonia led European countries in the Energy Harmonized Index of Consumer Prices (HICP) at 21.04, with Norway and the Czech Republic closely following. Notable variations were observed in Estonia (13.64% year-on-year increase), Norway (7.88%), and Latvia (10.49%). Over the past five years, these figures suggest significant energy inflation, with Estonia experiencing the highest average annual growth rate. Conversely, Spain recorded the lowest increase at 2.96% in 2023.
Future trends to watch include potential political and economic shifts impacting energy supply chains, renewable energy integration, and regulatory changes, which could influence European countries' energy costs and HICP trajectory.
Top countries in Energy HICP by Country
| # | 10 Countries | Indexes 2015 = 100 | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Estonia | 210.4 | 2023 | +2.85% | +13.64% | View data |
| 2 | 2 Norway | 204.3 | 2023 | -4.98% | +7.88% | View data |
| 3 | 3 Czech Republic | 176.1 | 2023 | +25.52% | +11.61% | View data |
| 4 | 4 Latvia | 171.02 | 2023 | +4.66% | +10.49% | View data |
| 5 | 5 Italy | 167.7 | 2023 | +1.08% | +9.94% | View data |
| 6 | 6 Ireland | 167.2 | 2023 | +5.09% | +9.88% | View data |
| 7 | 7 Poland | 163.7 | 2023 | +10.68% | +9.77% | View data |
| 8 | 8 Austria | 162.04 | 2023 | +6.89% | +9.42% | View data |
| 9 | 9 Lithuania | 159.02 | 2023 | -4.01% | +8.97% | View data |
| 10 | 10 Netherlands | 158.15 | 2023 | -23.72% | +8.36% | View data |
