The inflation rate in Greece rose by 3% in August last month – on an annual basis – compared to 2.7% in the previous month, July 2024, and 2.7% in the corresponding month of 2023, according to Greece’s statistics authority, EL.STAT.
The monthly rise was attributed price hikes in energy (natural gas +28% and electricity +9.7%), as well as the “punishing” food increases. Specifically, olive oil, a cooking staple in the country, recorded a whopping price hike of 49.1%.
The month saw an absolute inflation increase of 0.3%, compared with July 2024.
The continuing, month-by-month, inflation rate was fueled by rising costs in housing, healthcare and telecoms. Conversely, other sectors, such as apparel and transportation, saw price decreases.
