First deflation in food prices after 3.5 years

The Greek economy ended 2024 with negative food inflation for the first time since May 2021.

This is related, on the one hand, to the normalization of the market and the mitigation of the consequences of external geopolitical and climatic factors, and, on the other, to the imposition of measures that have been partially criticized by the market as extremely interventionist.

Inflationary pressures, however, are present, mainly triggered by the services sector, while no one can rule out a sharp increase in energy and food prices in the near future, given the fragile geopolitical environment and the impact of the climate crisis.

According to Eurostat estimates, the harmonized general index of consumer prices changed in December 2024 compared to a year earlier by 2.9% compared to an annual change of 3% in November. In the eurozone, the harmonized index of consumer...