Food inflation is approaching zero

Greece registered the second-lowest inflation rate in food among the 27 European Union member-states in November, clearly indicating that pressure on household budgets due to supermarket costs has receded radically.

According to Eurostat data published on Wednesday, food and non-alcoholic drink prices in Greece rose marginally by 0.4% compared to November 2023, an annual rate that is significantly low for a developed economy when the corresponding rate for the EU is 2.5%.

November's rate is the lowest rate of food and non-alcoholic drink inflation in Greece since May 2021 (before Russia's invasion of Ukraine that led to higher grain prices during a period when the coronavirus pandemic had reduced consumption significantly).

Eurostat confirmed that the general consumer price index in Greece registered 3%, half a point above the European average.

But on a...