The annual rate rose to 3% inflation in August in Greece, according to Hellenic Statistical Authority (ELSTAT).

As announced by ELSTAT, from the comparison of the General Consumer Price Index (CPI) of the month of August 2024 with the corresponding Index of August 2023, an increase of 3.0% resulted against an increase of 2.7% that occurred during the corresponding comparison of the year 2023 with 2022.

The General CPI during the month of August 2024, compared to July 2024, showed an increase of 0.3%, against a zero change noted during the corresponding comparison of the previous year.

The average CPI for the twelve months of September 2023 – August 2024, compared to the corresponding Index for the twelve months of September 2022 – August 2023, showed an increase of 2.9%, compared to an increase of 5.5% recorded during the corresponding comparison of the twelve months of September 2022 – August 2023 with the twelve months of September 2021 – August 2022.

Comparison of August 2024 with July 2024

The increase of the General CPI by 0.3% in the month of August 2024, compared to the corresponding Index of July 2024, mainly came from the changes in the following groups of goods and services:

Of the increases in indicators by:

  • 0.2% in the group Food and non-alcoholic beverages, mainly due to price increases in: fresh fish, cheese, fresh fruit, fresh vegetables. Part of this increase was compensated by the decrease in prices mainly in: bread and cereals, poultry, yogurt, olive oil.
  • 2.8% in the Housing group, mainly due to price increases in: house rents, house repair and maintenance, electricity.
  • 1.4% in the Health group, mainly due to an increase in the prices of pharmaceutical products.
  • 0.3% in the Communications group, mainly due to a price increase in telephone services.
  • 0.1% in the Hotels-Cafes-Restaurants group, mainly due to an increase in prices in restaurants-patisseries-cafes-canteens. Part of this increase was compensated by the decrease in prices mainly in motel-hotels.
  • 1.1% in the Other goods and services group, mainly due to price increases in other personal care items.

Of the reductions in indicators by:

  • 0.3% in the group Alcoholic beverages and tobacco, mainly due to a decrease in prices of alcoholic beverages (not served).
  • 4.6% in the Clothing and footwear group, due to general summer sales.
  • 0.3% in the group Durable goods-Household goods and services, mainly due to a decrease in prices of goods of immediate household consumption.
  • 0.8% in the Transportation group, mainly due to a decrease in fuel and lubricant prices

Comparison of August 2024 with August 2023

The increase of the General CPI by 3.0% in the month of August 2024, compared to the corresponding Index of August 2023, came mainly from the changes in the following groups of goods and services:

Of the increases in indicators by:

  • 2.8% in the group Food and non-alcoholic beverages, due mainly to price increases in: bread, breakfast cereals, meats (general), fresh fish, olive oil, dried fruits and nuts, fresh vegetables, preserved or processed vegetables, sugar -chocolates-sweets-ice creams, mineral water-soft drinks-fruit juices. Part of this increase was offset by the decrease in prices mainly in: pizzas and pies, dairy and eggs, fresh fruit, frozen vegetables, potatoes, other food.
  • 0.7% in the group Alcoholic beverages and tobacco, due mainly to an increase in prices of alcoholic beverages (not served).
  • 6.2% in the Clothing and Footwear group, due to price increases in clothing and footwear.
  • 5.5% in the Housing group, mainly due to price increases in: house rents, house repair and maintenance, electricity, natural gas, heating oil. Part of this increase was compensated by the reduction of prices mainly in municipal fees.
  • 3.1% in the Health group, mainly due to price increases in: pharmaceutical products, medical-dental and paramedical services, hospital care. Part of this increase was offset by the decrease in prices mainly in medical products.
  • 1.5% in the Transportation group, mainly due to price increases in: new cars, auto parts and accessories, maintenance and repair of personal transportation equipment, other services related to personal transportation, air passenger tickets. Part of this increase was offset by the decrease in prices mainly in: used cars, fuel and lubricants.
  • 0.4% in the Communications group, mainly due to an increase in the prices of telephone services.
  • 1.4% in the Leisure-Cultural activities group, due to price increases mainly in: small leisure items-pets, entertainment and cultural services, newspapers-books and stationery, package holidays. Part of this increase was offset by a decrease in prices mainly in audio and video processing equipment.
  • 3.5% in the Education group, mainly due to price increases in: pre-school and primary education fees, secondary education fees, tertiary education fees.
  • 6.6% in the Hotels-Cafes-Restaurants group, mainly due to an increase in prices in: restaurants-patisseries-cafes-canteens, hotels-motels-inns.
  • 1.9% in the Other goods and services group, mainly due to price increases in: hair salons and personal care stores, other personal items, health insurance premiums, vehicle insurance premiums. Part of this increase was offset by the decrease in prices mainly in other types of personal care.

Of the reductions in indicators by:

  • 0.9% in the group Durable goods-Household goods and services, mainly due to a decrease in prices of goods of immediate household consumption. Part of this decrease was offset by the increase in prices mainly in: furniture and decorative items, household services.

Eurostat: New small rise in inflation to 3.1% in August

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