Greece Inflation

Inflation accelerates in May from the prior month

Latest reading: Harmonized consumer prices increased 4.9% on a year-on-year basis in May, following a 4.6% rise in the previous month. May's reading was the strongest since March 2023. Relative to the previous month's figures, there were higher price pressures for transportation (+7.7% on a year-on-year basis vs +6.4% in April), recreation (+2.9% vs +1.9% in April) and restaurants and hotels (+9.1% vs +4.9% in April). In contrast, there were reduced price pressures for food and non-alcoholic beverages (+3.2% vs +4.4% in April) and housing and utilities (+11.5% vs +13.4% in April). Meanwhile, consumer prices were up 5.2% on a year-on-year basis in May, following a 5.4% rise in the prior month. Lastly, harmonized consumer prices increased 0.63% in May in month-on-month terms, following a 1.63% increase in the previous month.

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