Fuel prices surge over 20% as inflation climbs to 3.9% in Greece

Inflation in Greece accelerated to 3.9% in March 2026, up from 2.7% in February, driven largely by sharp increases in energy costs and food prices, according to data released by the Hellenic Statistical Authority.

Among the most significant price hikes were fuels, with heating oil rising by 24.6% year-on-year and diesel fuel increasing by 22.8%. Petrol prices also recorded a notable increase of 9%, while other fuels surged by 27.4%. Electricity costs rose by 2.4%, although natural gas prices fell by 25.2%, partially offsetting household energy pressures.

The rise in energy prices has been linked in part to ongoing geopolitical tensions in the Middle East, which have contributed to volatility in global oil markets.

Food prices also continued to climb, with beef increasing by 20.3% and lamb and goat meat by 14.1%. Significant rises were also recorded in margarine and vegetable fats (11.6%), coffee (11.3%), and chocolate products (9%). In contrast, olive oil prices fell sharply by 22.5%, marking one of the steepest declines in the food category.

Overall, the “Food and Non-Alcoholic Beverages” category increased by 4.5%, driven by higher prices in bread, meat products, dairy, fruits, vegetables, confectionery, and coffee.

Transport costs rose sharply as well, increasing by 8.1%, with air transport ticket prices up by 22%, alongside higher costs for vehicles, fuel, and maintenance services.

Other notable increases included housing costs (up 5.7%), restaurant and hospitality services (up 6.1%), healthcare (up 1.4%), and education (up 2.8%).

Economists note that while some categories such as natural gas and olive oil provided partial relief, broad-based inflation continues to affect household budgets across Greece.