Inflation below euro average

Greece's harmonized index of consumer prices dropped in May to below the average inflation in the eurozone for the first time since last September, according to Eurostat estimates.

In fact, Greece is the only eurozone member where there has been a decrease in the index - i.e. not just a slowdown in the rate of price growth - on a monthly basis (compared to April 2024). Negative energy inflation, the three-month block on offers by retailers who raise their prices that significantly limited price hikes, as well as the fact that Orthodox Easter this year was in May, which often means big offers are seen as key factors in both the easing of the consumer price index in May as well as for the deviation from the corresponding index in the eurozone.

So, according to what Eurostat announced, the harmonized consumer price index in Greece is estimated to have been formed in May...