Inflation drops significantly in March

Eurostat's provisional data on March inflation, released on Friday, showed a slowdown in the rate of price growth in Greece, but also in the eurozone as a whole.

That was an expected development, since now the year-on-year comparison is made with periods of large, sharp price increases, as was the case from March 2022 onward, which were the first months of the war in Ukraine. This, however, does not apply to food groups, whose prices are still rising at a double-digit rate.

According to Eurostat data, the European Union-harmonized consumer price index in Greece is estimated to have reached 5.4% in March, from 6.5% in February, the fifth lowest rate in the eurozone. However, on a monthly basis Greece registered the second largest increase in the index (by 1.6%) after Portugal (2%), which means that the new round of price hikes has begun. These fresh hikes are mainly...