Inflation dropped below the eurozone average in July, according to revised Eurostat data.
The harmonized index of consumer prices (HICP) rose to 2.7% year-on-year in July from 3.9% in June, reflecting a relative leveling of prices in foods and services and also a drop in the cost of energy.
In the same period, the eurozone average crept up to 2.8% in July from 2.7% in June, thanks mainly to accelerating services prices.
This is the second month the HICP dropped, after reaching a peak of 4.9% in May. But energy prices remain a major source of uncertainty; The Bank of Greece maintains that the end-year figure will be 3.8%, up from 2.9% in 2025.
For the government, the drop in the inflation rate comes not a moment too soon, given that rising prices are consistently the public’s main worry, as seen in opinion polls.
