Greece's Inflation Rate Exceeds Eurozone Average for Sixth Consecutive Month

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Despite efforts to curb inflation through Development Minister Kostas Skrekas's anti-inflation measures, Greece continues to diverge from the Eurozone's downward trend, with inflation exceeding the regional average for the sixth consecutive month.

In March, Greece recorded a 3.4% inflation rate, up from 3.1% in February, according to Eurostat data. This rise contrasts with the Eurozone's inflation, which dipped to 2.4% from 2.6% in February, moving in the opposite direction to Greece's trajectory.

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The data highlights Greece's position as the fifth-highest price increase among Eurozone countries, trailing behind Croatia, Austria, Estonia, and Belgium. Notably, Greece's inflation rate in key sectors such as food, alcohol, and tobacco remains nearly double that of the Eurozone, with a 4.8% increase in March compared to the Eurozone's 2.7%.

Furthermore, prices for industrial goods in Greece rose to 3.4% from 3% the previous month, while services climbed to 3.9% from 3.5% in February.

In contrast, Germany experienced a notable decrease in inflation, dropping to 2.3% in March from 2.7% in February, while France saw inflation fall below 3% for the first time in 2.5 years, with the consumer price index at 2.4%. Italy, however, witnessed a slight uptick in inflation to 1.3% from 0.8% in February, still below estimates.

The divergence in inflation rates between Greece and the Eurozone underscores ongoing economic challenges within the country, despite regional efforts to stabilize prices and promote financial resilience.

(Source: To Vima)

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