Greece recorded the second-lowest food inflation rate in the European Union in November, signaling a significant easing of the financial strain on households caused by rising supermarket prices.
According to data released by Eurostat on Wednesday, food and non-alcoholic beverage prices in Greece rose by just 0.4% in November 2024 compared to the same month in 2023. This rate is notably low for a developed economy, especially when compared to the EU average of 2.5%.
This marks the lowest food inflation rate in Greece since May 2021, prior to the onset of the war in Ukraine, which led to soaring grain prices amidst the lingering effects of the COVID-19 pandemic on global consumption.
While Greece's general consumer price index stood at 3% in November, slightly above the European Union average, it demonstrated strong performance on a monthly basis. Between October and November, Greece saw a 1.2% drop in food prices, the second-largest decrease among EU member states. Only Malta experienced a larger reduction, with prices falling by 3.2%.
The data highlights a promising trend of diminishing inflationary pressures on Greek households, offering relief after a prolonged period of rising food costs.
Read more: Eurostat reports
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