Inflation has slowed down for a second month in a row, mainly thanks to the easing in price rises for certain categories of foodstuffs, official data shows.
But inflationary pressure persists, both in some foods and in energy products. And the fragility of the truce in the Middle East maintains concern and inflationary expectations.
According to data published Friday by the independent Hellenic Statistical Authority (ELSTAT), the annual rate of inflation dropped to 3.4% in July from 4.4% in June, and 5.2% in May. Month-on-month, July prices were 1.4% lower than June’s.
Persistent worries and the fact that inflation consistently tops public worries, as measured in opinion surveys, lead the government to place great importance in the agreement with supermarkets for a minimum 5% price cut in some basic necessities that will be implemented starting August 31; not coincidentally, a few days before Prime Minister Kyriakos Mitsotakis delivers his speech at the Thessaloniki International Fair.
The price easing is quite uneven: for example the price of olive oil is 21.7% lower than in July 2025, but the price of veal is up 14.3%.
