The greatest percentage increase was recorded in olive oil, despite Greece being the third-largest producer worldwide

The Capital Economics report predicts the Eurozone’s GDP will contract in the 4th quarter of 2024 with the bloc’s economy gradually experiencing a slight recovery as interest rates fall and real incomes rise

Across the European Union, annual inflation reached 3.4% in December 2023, rising from 3.1% in November marking a significant decrease from the 10.4% recorded one year earlier

The benchmark German 10-year bond, a reference point for the Eurozone, also saw a decline of 4 basis points to 1.931%, reaching its lowest level since March of the previous year.

Average interest rates for consumer loans, which fluctuated between 4.64% and 5.69% in early 2022, have climbed to 7.28% and 8.59%, according to the latest European Central Bank (ECB) figures

UniCredit projects Greece will achieve its inflation target of 2% in 2024, aligning with the European Central Bank's goal

Next month Greece will repay 5.3 billion euros ahead of schedule and hopes to continue the trend in 2024

Rise Attributed to Higher Food Prices

IMF Projects Global Inflation to Stand at 6.9 Percent in 2023