Despite the Mitsotakis government’s narrative that inflation in Greece is decreasing, according to Eurostat’s announcement, annual inflation in Greece is estimated to be 3.1% in August, compared to 3% in July.
It was a few days ago that the prime minister claimed that “inflation is subsiding, while for the second month in a row food price increases in our country fell below the European average”.
He had noted that “the “banks” that we have raised so far, which are many, are effective and that this difficult phase, which we have undeniably passed, is coming to an end.”
Annual euro area inflation is expected to decreased to 2.2% in August 2024, from 2.6% in July, according to Eurostat’s preliminary estimate, released today.
In August, the highest level of inflation in the eurozone was recorded by Belgium (4.5%), Estonia (3.4%), the Netherlands (3.3%), Slovakia (3.2%) and Greece (3. 1%).
The lowest inflation levels in the eurozone are recorded by Latvia (0.9%) and Finland, Ireland and Slovenia (all three 1.1%).
Looking at the main components of inflation in the euro area, services are expected to have the highest annual rate in August (4.2%, up from 4% in July), followed by food, alcohol and tobacco (2.4% , versus 2.3% in July), non-energy industrial goods (0.4%, versus 0.7% in July) and energy (-3%, versus 1.2% in July).
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