Inflation at 2.4% in September
Greece had the fourth lowest inflation in the European Union in September 2023, at 2.4%, according to the final data published on Wednesday by Eurostat for the harmonized index of consumer prices.
That does not mean that price hikes are a thing of the past for those living in Greece, which is evident mainly in food inflation, but also from the fact that the country ranks first among the EU-27 in terms of an increase in the consumer price index on a monthly basis, as it increased by 1.9% in September 2023 compared to August 2023.
The main reason for the latter is food price increases, which on an annual basis in Greece reached 9.6%, a performance that is the 12th highest among the EU member states.
Cheese, rice and olive oil are the champions of price increases, as these products not only recorded double-digit price hikes, but are also among the highest at the EU level. Eurostat’s breakdown of the harmonized index of consumer prices shows that cheese products have appreciated by 12.8% in September 2023 compared to September 2022, the fourth largest increase in the EU. The price of olive oil has increased by 28.8%.
