The Hellenic Statistical Authority (ELSTAT) reports that Greece’s inflation rate reached 2.9% in September 2024, a slight decline from 3% in August of the same year.
Looking ahead, Greece’s inflation based on the Harmonized Index of Consumer Prices is projected to decrease significantly to 2.8% in 2024 and further to 2.1% in 2025, down from 4.2% in 2023.
In comparing the General Consumer Price Index (CPI) for September 2024 with the same index from September 2023, there was a 2.9% increase.
This is a notable rise compared to the 1.6% increase seen during the same period from 2023 to 2022. Furthermore, the General CPI indicated a 1.8% increase in September 2024 compared to August 2024, mirroring the 1.8% rise recorded in the same month of the previous year.
These trends are largely attributed to a significant drop in energy prices, despite some fluctuations, along with a softening in food prices, both of which are contributing to the easing of inflation.
Core inflation is also expected to gradually decline, reflecting a mild easing in service-related inflation.
Additionally, the average CPI for the twelve-month period from October 2023 to September 2024 increased by 3.0% compared to the prior twelve-month period from October 2022 to September 2023.
This marks a notable decrease from the 4.7% increase recorded in the previous comparison of October 2022 to September 2023 with the twelve-month period from October 2021 to September 2022.
