Greek inflation eased to 3% in November 2024, marginally down by 0.1% the previous month and a sizeable 1.2% drop compared to the 4.2% in the same month in 2023, according to the European Union’s statistical authority, Eurostat.
The annual drop in the country’s consumer price index recorded a 1.2% fall, marking the second-largest drop after Malta, which experienced a 3.2% reduction. On a monthly basis, Greek inflation declined slightly by 0.1%.
Despite this decrease, Greece’s November inflation rate remained above the EU average and ranked as the tenth highest among EU countries.
The lowest annual inflation rates were recorded in Ireland (0.5%), Lithuania, and Luxembourg (both at 1.1%), while the highest rates were observed in Romania (5.4%), Belgium (4.8%), and Croatia (4.0%). Compared to October 2024, annual inflation decreased in four member states, remained stable in three, and increased in 20.
In the eurozone, inflation stood at 2.2% in November 2024, up from 2.0% in October. A year earlier, the rate was 2.4%. Similarly, in the EU, inflation reached 2.5% in November 2024, rising from 2.3% in October and compared to 3.1% in November 2023.
In November 2024, the largest contributors to the Eurozone’s annual inflation rate were services (+1.74 percentage points), followed by food, alcohol, and tobacco (+0.53 p.p.), non-energy industrial goods (+0.17 p.p.), and energy (-0.19 p.p.).
The data reflects ongoing shifts in inflationary pressures across different sectors and regions, providing insights into economic trends in both Greece and the broader European Union.
Meanwhile, according to Eurostat’s preliminary estimates, inflation in Greece stood at 2.9% in December 2024, a slight decrease from 3% in November.
