Food inflation in Greece fell to the lowest level in the last 3 years in June 2024, according to data announced today by Eurostat.

The consumer price index for food stood at 1%, the lowest performance since May 2021 when the economy was still moving in a deflationary environment under the impact of the pandemic crisis.

Food inflation in Greece is now at lower levels than the average of the European Union (1.3%) and the Eurozone (1.6%) as well as the countries of the European South, except for France (0.8%) ), where demand is currently increased due to tourism: Spain 4.2%, Portugal 3.1%, Cyprus 2.7%, Malta 2.4%, Italy 1.5%.

In overall inflation, Greece moved exactly at the Eurozone average (2.5%), slightly below the European Union average (2.6%).

Prime Minister Kyriakos Mitsotakis also referred to the reduction in food inflation in the interview he gave on Tuesday night in the main SKAI news bulletin, stressing: “We have food inflation significantly below the European average and indeed, in some products, we are starting to see real price deflation. It is a first positive sign.

I think inflation will fall even more. And as long as inflation falls further, in some products – not all obviously – we will start to see a de-escalation of prices.”