Marginal drop in inflation

Inflation slowed down last month, albeit marginally, as it stood at 2.9% compared to 3% in August, with the prices of food, rent as well as other goods and services such as medicines, insurance premiums continuing to exert strong inflationary pressures.

Notably the average annual inflation in the first nine months of 2024 stands at 2.8%, close to the budget forecast for inflation of 2.7%, while the average annual inflation in the 12 months of October 2023 - September 2024 is 3%.

However, the geopolitical developments and especially the possibility of an extension of the war in the Middle East cannot be considered factors that could lead to a de-escalation of prices, while at the same time the war in Ukraine is ongoing. The most worrying fact, perhaps, as was also pointed out when the Eurostat estimates for the harmonized consumer price index were released a few days...