Price reduction by -1.1% on a monthly basis and stabilization of the monthly Consumer Price Index (CPI) in food products, ELSTAT data show, sources from the Ministry of Development point out on the occasion of the announcement of the July 2023 Consumer Price Index.

They also add that on an annual basis, Greece remains firmly among the 5 European Union countries with the lowest inflation.


-On an annual basis (comparing July 2023 with July 2022), the Consumer Price Index stands at 2.5% and remains the 5th lowest in the Eurozone, reduced by -53% compared to the European average of 5.3%.

Great are the reductions in energy, specifically in Natural Gas by -68.9%, heating oil by -20.7% and electricity by -16.2%, while an increase is recorded in solid fuels by 26.6%.

The Food Price Index fluctuates at 12.3%.

-On a monthly basis (comparing July to June 2023), the Consumer Price Index is down by -1.1%.

The reduction in clothing items is significant – footwear by -23.8%, while of the individual products-services natural gas is reduced by -5.9% and electricity by -2.2%.

Specifically, in food on a monthly basis, reductions are observed in fresh fruit (-9.35%), edible oils (-3.58%), cereals (-2.09%), fruit juices (-2.53%), potatoes (-1.08 %) breakfast cereals (-1.04 %). Conversely, increases were recorded in preserved milk (5.34%), pasta (3.99%), eggs (3.06%), prepared foods (2.14%), fresh fish (2.54%) and vegetables (1.94 %).