Eurostat: Inflation in Greece at 3% in July – Above EU Average

Inflation in Greece amounted to 3% in July, according to the European Statistical Authority (Eurostat), settling above the eurozone average. The annual consumer price index (CPI) rate in the eurozone stood at 2.6% in July, up from 2.5% in June, recording a notable drop from 5.3% a year earlier.

The European Union’s (EU) annual inflation rate was 2.8% in July, compared to 2.6% in June, compared to last year when it stood at 6.1%. The forecast represents the second estimate of Eurostat for inflation in the common currency zone and the EU bloc.

According to recent data from the Hellenic Statistical Authority (ELSTAT), inflation in Greece amounted to 2.7% in July, compared to 2.3% in June.

Food items continue to show significant annual changes, with olive oil rallying by 56.7%, cereals gaining +7.4%, fresh fish rising by 8.4%, and mineral water/soft drinks increasing by 8.6%. On the other hand, there were decreases on an annual basis for flour (-8.9%) and fresh fruits (-9.2%).

Natural gas also saw a substantial increase of +23.4%, while passenger transport categories by airplane rose by 18.4%, and hotels-motels-lodges increased by 12.6%, as we are now in the heart of the tourist season.

ELSTAT reported that the general Inflation in Greece (CPI) for July 2024 showed a decrease of 0.7% compared to June 2024, following a 1.1% decrease in the same comparison the previous year. The average CPI for the twelve months from August 2023 to July 2024 increased by 2.8% compared to the corresponding period from August 2022 to July 2023.

The lowest annual rates were recorded in Finland (0.5%), Latvia (0.8%), and Denmark (1.0%). The highest annual rates were recorded in Romania (5.8%), Belgium (5.4%), and Hungary (4.1%). Compared to June 2024, annual inflation decreased in nine member states, remained stable in four, and increased in fourteen.

Source: tovima.com