Inflation seen rebounding

Eurostat estimated on Tuesday that European Union-harmonized inflation rose considerably in October to reach 3.9%, which is mainly attributed to food price hikes after a few weeks of natural disasters that mainly struck central Greece.

At the same time, inflation in the eurozone was at its lowest level in the last two years, further strengthening hopes that the European Central Bank will not be required to return to the practice of raising interest rates.

According to provisional Eurostat estimates, Greece's harmonized index of consumer prices was 3.9% year-on-year October, the eighth highest among the member-countries of the eurozone. In September 2023 the harmonized consumer price index in Greece was at 2.4% and the national consumer price index at 1.6%.

On a monthly basis, Eurostat estimates that the harmonized index of consumer prices in Greece increased by...