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.
Food items continue to experience the largest annual changes, with olive oil surging by 56.7%, cereals up by 7.4%, fresh fish increasing by 8.4%, and mineral water/soft drinks rising by 8.6%.
The negative development prompted the relevant development minister to meet with supermarkets' representatives to hammer out a plan to contain rising food prices
The PM said energy producers had made a huge windfall and the government would tax them
Food inflation in Greece is comparable to the EU27 average, while Greek wages, in terms of purchasing power, are only higher than those in Bulgaria
Final figures on inflation for Greece came in slightly worse than the preliminary figure of 2.4%, released by ELSTAT at the start of July
It was up by 2.3% compared to June of 2023, according to preliminary figures by the country’s statistical authority ELSTAT
The PM urged people to watch Coldplay's latest video clip shot at the Odeon of Herodes Atticus
Core inflation, which excludes the calculation of volatile fuel and unprocessed food prices, also slightly declined to 2.8% annually from 2.9% a month earlier
A year earlier, the rate was 6.1%. European Union's annual inflation was 2.7% in May 2024, up from 2.6% in April. A year earlier, the rate was 7.1%
However, the consumer price Index (CPI) in May 2024 compared with May 2023, increased by 2.4%. In May 2023, the annual rate of change of the CPI was 2.8%.
Eurozone Inflation Climbs to 2.6%
Greek Prime Minister Kyriakos Mitsotakis broached the issue of persistent inflation in his opening remarks during a debate in Parliament on Friday, calling the high cost of living the most serious problem plaguing Greek society. Mitsotakis said tackling high prices was his government’s top priority laying out a series of actions already in force to […]
This discrepancy occurs because the weighting of olive oil in the consumer price index, as prescribed by Eurostat regulations, is significant due to its historically high consumption by Greek households
The data shows that Greece ranks seventh in overall inflation within the eurozone and second in food inflation
Olive oil (63.7%), fruit (11.6%), fish (10.6%), and mineral water (12.5%) registered the highest increases annually
The rate of increase for food prices was up by 4.9% in April 2024, compared to 4.8% in the previous month
The Premier made statement during a visit an an open vegetable market