Annual inflation rate slows to 2.4% in May 2024

Economy
Tue, 11 Jun 2024 8:15 GMT
The inflation rate in Greece slowed significantly in May 2024, according to figures released by Greece's independent statistical authority ELSTAT on Monday on the consumer price index (CPI). The annual increase in the CPI was 2.4% compared with May 2023, when the annual rate of change of the CPI was 2.8%.
Annual inflation rate slows to 2.4% in May 2024

The inflation rate in Greece slowed significantly in May 2024, according to figures released by Greece's independent statistical authority ELSTAT on Monday on the consumer price index (CPI). The annual increase in the CPI was 2.4% compared with May 2023, when the annual rate of change of the CPI was 2.8%.

The harmonised inflation rate increased by 2.4% in May 2024, down from 4.1% in May 2023 relative the same month in 2022. 

The CPI in May 2024 compared with April 2024, decreased by 0.3%. In May 2023, the monthly rate of change of the CPI was 0.4%

This was largely due to reduced energy prices (electricity, natural gas), while food inflation also slowed to 3.1% - with some notable exceptions, such as olive oil (up 56.8%), fish (up 12.5%) and soft drinks (7.7%).

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