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%.
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%.
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
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
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%
Summer has come and it is expected to be the hottest one yet. But if you thought you could get through it by living off of ice cream, think again!
The findings are based on IELKA's regular report, which includes a price comparison study using data from price comparison platforms in each country and direct price checks from supermarket chains.
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
Projected consumer prices are forecast to rise by 2.7%
In the eurozone, the consumer price index (CPI) dropped to 2.4%, while the average EU settled at 2.6%
Greek households appear more pessimistic over the course of inflation in the coming 12-month period, compared with households in the rest of the Eurozone. The average expectations for inflation in Greece over the next 12 months remained stable at 10% in February 2024, while falling slightly in the Eurozone at 3.1%. The sentiments were found […]