Price indices

Cyprus' Harmonized Consumer Price Index (HCPI) rose by 1.6% in October 2024 compared to the same month in 2023, according to data from the Statistical Service of Cyprus.

On a monthly basis, the index recorded a slight decline of 0.2% from September 2024. 

Inflation in Greece fell to 2.4% in October, from 2.9% in September.

According to ELSTAT's data, the slowdown in food prices is noticeable, where in October a price increase of 1.5% was recorded on an annual basis (from 3.2% in September), with reductions in flour and cereal, pasta, dairy, fruit and coffee.

Inflation is proving extremely persistent, as despite hopes for a de-escalation in October, it strengthened further and reached 3.2%, according to Eurostat estimates, compared to 3.1% in September.

Consumer morale continued to improve for a third month in a row, according to data from the Turkish Statistical Institute (TÜİK) on Oct. 23.

The consumer confidence index rose by 3 percent month-on-month in October, followed by 0.6 percent and 2.4 percent increases recorded in August and September, respectively.

Inflation is likely to exceed the target at the end of 2024 but will decline to 27 percent in April next year, Finance Minister Mehmet Şimşek has said.

Greece's September reading of the European Union-harmonized consumer price index was eventually even higher than projected on October 1 and further from the eurozone average, according to figures Eurostat released on Thursday.

Britain's annual inflation rate fell to a three-year low in September, official data showed on Wednesday, fueling speculation that the Bank of England will resume cutting interest rates next month.

Inflation in Bulgaria experienced a significant slowdown in September, dropping to 1.2% from 2.1% in August, marking the lowest rate since March 2021, according to the National Statistical Institute (NSI). Compared to August, a deflation of 1% was recorded, following a slight rise of 0.1% in the consumer price index during the previous month.

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.

The pace of monthly growth in retail prices in Istanbul accelerated from 1.73 percent in August to 3.9 percent in September, according to the Istanbul Chamber of Commerce (İTO) on Oct. 1.

The annual increase in retail prices in Türkiye's largest city was 59.18 percent, slowing from August's 61.57 percent.

Retail prices have risen 42.9 percent compared with the end of 2023.