Inflation in Greece stood at 3.1% in January recording an increase from the 2.9% in December, while it reached 2.5% in the eurozone, according to Eurostat’s preliminary estimates released on Monday, February 3, 2025.

In January, services recorded the highest annual inflation rate in the eurozone at 3.9%, slightly down from 4.0% in December, according to Eurostat’s latest data.

Following closely were food, alcohol, and tobacco at 2.3% (from 2.6% in December), energy at 1.8% (up from 0.1%), and non-energy industrial goods, which remained stable at 0.5%.

Core inflation—which excludes the more volatile food and energy prices—held steady at 2.7% annually across the eurozone.

However, on a month-to-month basis, core inflation registered a notable 1% decline from December to January.

Meanwhile, inflation in Greece saw a marginal slowdown in December but remained above the eurozone average, as confirmed by Eurostat’s final figures.

Data indicated that Greece’s Consumer Price Index (CPI) rose by 2.9% annually in December, slightly down from 3% in November, while prices saw a marginal 0.1% increase on a monthly basis.

Meanwhile, data from the Hellenic Statistical Authority (ELSTAT) for December highlighted sharp price hikes in key sectors.

Health insurance premiums soared by 14%, while airfares spiked by 47.7%. Hotel, motel, and inn accommodations became 8.8% more expensive, with notable increases also recorded in natural gas (+8.7%), residential rents (+8.5%), and clothing (+6.2%).

Food prices also climbed, with cereals up 4.5%, beef rising 4.4%, and bottled water and soft drinks increasing by 4.2%.

On the other hand, some price drops were observed including frozen seafood which fell by 10%, pasta became 5% cheaper, heating oil prices declined by 7.6%, and essential household goods dropped by 6.3%.