Harmonized inflation rises to 3%

The resurgence of inflationary pressures is causing a new headache for the government and households.

This is a result of the recovery in energy prices, the maintenance of high food prices, as well as the large and numerous price increases in a range of services, from food and accommodation to transport, insurance and medical services.

Therefore, after two months when the European Union-harmonized index of consumer prices in Greece was below 3% (2.4% in May and 2.5% in June), it returned to 3% in July, according to Eurostat estimates announced on Wednesday, and is the fourth highest in the eurozone, whose average index climbed from 2.5% in May to 2.6% in June.

A de-escalation of prices in Greece over the next period seems extremely difficult, given the new geopolitical developments in the Middle East and the effect that a generalized conflict can have on the...