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Greece recorded a higher inflation rate than the EU average, ranking tenth among the countries with the highest inflation rates, for this year.

The general consumer price index (CPI) posted a 0.4% decrease in November compared to the previous month

Regarding the country’s unemployment growth the report mentions that it is expected to slow down due to rising labor costs.

A year earlier, in November 2023, inflation in Greece was recorded at 2.9%.

By 2026, the reduction in public debt is expected to bring it close to 140% of GDP.

The index in September 2024 recorded a decrease of 2.9% compared with August 2024.

On a year-to-year basis, the average inflation in Greece from November 2023 to October 2024 increased by 2.9%, compared to a 4.2% rise during the same period the previous year

In Europe’s common monetary bloc, the Eurozone, the consumer price index settled at 2% from 1.7% the previous month

For the first time, the adjustment system will include employees from the public sector, leading to a corresponding increase in their minimum wage

Calculations show that the real wage as of September 2024 is 693 euros, meaning the actual minimum wage has yet to reach 700 euros.

These trends are largely attributed to a significant drop in energy prices, despite some fluctuations, along with a softening in food prices.

According to Eurostat, Greece posted the highest annual change in prices for the month of September with 1.7%, followed by Portugal and Italy with 1.2%.

At the same time, the consumer price index in the Eurozone increased by 1.8% during the same month (down from 2.2% in Aug.), falling below the European Central Bank's (ECB) target of 2%.

Regarding monetary policy, the BoG notes that 2024 will see a marginal expansion as a result of investment spending from available EU funds.

The annual inflation rate for the European Union was 2.4% in August 2024, down from 2.8% in July, while a year earlier, it stood at 5.9%.

Olive oil, a cooking staple in the country, recorded a whopping price hike of 49.1%

Marginally up from 3.0% in July 2023, exceeds Euro Area average of 2.2%

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%.

Month-over-month, the General Index rose by 2.1% in June 2024 compared to May 2024, a notable jump from the 0.5% increase recorded in the same period of the previous year.