The ELSTAT consumer price index confirmed the apparent trends of decelerating inflationary pressures in Greece in May, with food price increases continuing but at a significantly slower rate.

In particular, the general consumer price index ran at 2.4% y/y in May, slowing significantly from 3.1% in April.

On a monthly basis, the May-April comparison showed an increase of 0.3%.

The 0.3% decrease of the overall CPI in May 2024, compared with the corresponding index in April 2024, is mainly due to the changes in the groups of goods and services as follows:

 1. A decrease of:

• 0.5% in the group Food and non-alcoholic beverages, due to the decrease, mainly, in the prices of pork, milk, whole fresh, fresh fruit, and fresh vegetables. This decrease was partly offset by the increase, mainly, in the prices of bread and cereals, poultry, fresh fish, and yogurt.

• 0.3% in the group of alcoholic beverages and tobacco, due to the decrease, mainly, in the prices of alcoholic beverages (not served).

• 0.6% in the group Housing, due to the decrease, mainly, in the prices of electricity. The increase in the cost of natural gas and housing rentals primarily offset this decrease.
• 0.4% in the household equipment group, due to the decrease, mainly, in the prices of non-durable household articles.
• 0.4% in the group Transport, due to the decrease, mainly, in the prices of fuels and lubricants. The increase in the cost of air travel tickets primarily offsets this decrease.
• 0.8% in the group Miscellaneous Goods and Services, due to the decrease, mainly, in the prices of other appliances and articles for personal care.
 

2. An increase of:
• 0.8% in the clothing and footwear group, due to the increase in the prices of clothing and footwear.
• 0.2% in the group Hotel-Cafés-Restaurants, due to the increase, mainly, in the prices of restaurants-confectioneries-cafesbuffet