Inflation accelerates to 2.9% in November
Greece’s EU-harmonized inflation rate jumped to 2.9% in November, sharply up from 1.6% in October, Eurostat estimated on Thursday.
The rise was driven mainly by higher food and services prices, highlighting persistent inflationary pressures despite the rollout of the “Price Reduction” initiative across more than 2,000 supermarket products.
The increase outpaced the eurozone average, where inflation edged up only slightly to 2.2% from 2.1% in October.
Food inflation in Greece climbed to 3.1% from 2.5% the previous month, while services inflation surged to 4.7% from 2.8%. Energy prices posted only a marginal rise of 0.3%.
The sustained pressure on consumer prices has contributed to a decline in consumer sentiment, with the IOBE confidence index falling to –50.6 in November from –47.6 in October.
