Figures from the National Statistical Service of Greece (ELSTAT) showed that the consumer price index rose by 1.8% in September, accelerating compared to August (+0.3%). This was the strongest growth since September 2023. Economists had expected a 0.2% increase. In annual terms, consumer price growth slowed to 2.9% from 3.0% (5-month high) in August. Consensus estimates suggested an increase of 2.5% per annum. The average CPI for the 12-month period from October 2023 to September 2024 increased by 3.0% per annum.
ELSTAT said that the increase in monthly terms was due to higher prices for food and non-alcoholic beverages (+0,7%), alcoholic beverages and tobacco (+0.6%), clothing and footwear (+38.2%), housing (+0,9%), household equipment (+0.4%), health (+0,6%), education (+2.6%), hotel-cafés-restaurants (+0,4%) and miscellaneous goods and services (+0,5%). On the other hand, prices fell for transport (-2.4%).
The data also showed that in September, the harmonized index of consumer prices (HICP) - an indicator that allows to compare inflation in Greece with inflation in European countries – rose by 1.8% on a monthly basis and by 3.1% per year. The average HICP for the 12-month period from October 2023 to September 2024 increased by 3.1% per year.