Inflation has slowed down for a second month in a row, mainly thanks to the easing in price rises for certain categories of foodstuffs, official data shows.
But inflationary pressure persists, both in some foods and in energy products. And the fragility of the truce in the Middle East maintains concern and inflationary expectations.
According to data published Friday by the independent Hellenic Statistical Authority (ELSTAT), the annual rate of inflation dropped to 3.4% in July from 4.4% in June, and 5.2% in May. Month-on-month, July prices were 1.4% lower than June’s.
Persistent worries and the fact that inflation consistently tops public worries, as measured in opinion surveys, lead the government to place great importance in the agreement with supermarkets for a minimum 5% price cut in some basic necessities that will be implemented starting August 31; not coincidentally, a few days before Prime Minister Kyriakos Mitsotakis delivers his speech at the Thessaloniki International Fair.
The price easing is quite uneven: for example the price of olive oil is 21.7% lower than in July 2025, but the price of veal is up 14.3%.
Other foods whose prices have risen on an annual basis include lamb and venison meat (12.4%), margarine (8.6%), pork (3.4%), dairy products and eggs (2.9%), poultry (2.2%), bread and other bakery products (1.2%).
On a monthly basis, the price of ice cream may have dropped 8.8%, but this is not going to save the family budget, welcome as it is in the middle of a hot summer.
Compared to June, significant hikes were observed in pork (2%), eggs (3.5%) and cheese (1%).
On the other hand, there was a significant cut in fruit (13.1%) and more modest ones in yogurt (2.9%), lamb and venison (2.4%) and vegetables (1.7%).
The greatest annual price hikes are to be found in energy: Diesel fuel is up 22.1%, gasoline 13.3% and natural gas 16.7%.
Only electricity is cheaper, by 2.2%.
Energy prices have also affected plane ticket prices (up 17.5% year-on-year, and 13.7% month-to-month).
Holiday packages are up 6.2% and dining 6.4%.
