Greece: Harmonized inflation falls to over two-year low in May
Harmonized inflation came in at 2.3% in May, which was down from April’s 3.2%. May’s reading marked the lowest inflation rate since September 2021. Looking at the details of the release, housing and utilities prices fell at a quicker pace in May compared to the previous month. Moreover, food prices rose at a softer rate. That said, price pressures for transportation picked up pace.
Accordingly, the trend pointed down mildly, with annual average harmonized inflation coming in at 3.1% in May (April: 3.3%). Meanwhile, consumer price inflation fell to 2.4% in May from April’s 3.1%.
Finally, harmonized consumer prices dropped 0.29% from the previous month in May, swinging from the 0.94% rise logged in April. May’s result marked the weakest reading since January.