Greece’s Inflation Rises to 3.1% in July Amid Housing, Energy Costs

Inflation in Greece accelerated in July, driven by surging rents, higher energy bills, and rising prices in clothing, food, and hospitality, despite a sharp drop in olive oil prices

Inflation Picks Up Pace in July

Greece’s annual inflation rate rose to 3.1% in July, up from 2.8% in June, according to data from the Hellenic Statistical Authority. The EU-harmonised index stood even higher at 3.7%, underscoring persistent price pressures across multiple sectors.

The twelve-month average from August 2024 to July 2025 recorded a 2.6% increase compared with the same period a year earlier.

Housing and Energy Lead Price Surge

Rents saw the steepest rise, up 11.3% year-on-year, while electricity prices jumped 18.9% and natural gas climbed 4.4%. Clothing and footwear rose by 8.4%, and health insurance premiums increased by 7%.

Food Prices Still Climbing

Food and non-alcoholic beverages rose 2.8% overall, with notable increases in bread, meat, fresh fish, yoghurt, fruit, vegetables, sweets, and coffee. Olive oil prices dropped sharply by 27%, but this was offset by rises of 19.3% in fruit and vegetables and 16.8% in coffee.

Hospitality and Leisure Costs Up

Holiday packages became 6.4% more expensive, while the hospitality sector saw a 6.2% increase in hotel, restaurant, and café prices. Recreation and cultural activities also posted price gains, driven by pet-related costs, entertainment services, and leisure goods.

Transport was the only major category to register a decline, down 1.1% due to lower prices for used cars, fuel, and lubricants. However, this was partially offset by higher costs for new vehicles, car repairs, and air passenger tickets.

Source: tovima.com