Figures from the National Statistical Service of Greece (ELSTAT) showed that the consumer price index rose by 0.1% in February after falling by 0.8% in January. Economists had expected a 0.2% decrease. In annual terms, consumer price growth slowed to 2.9% from 3.1% in January. Consensus estimates suggested an increase of 3.2% per annum. The average CPI for the 12-month period from March 2023 to February 2024, increased by 2.9% per annum.
ELSTAT said that the growth in monthly terms was due to higher prices for housing (+0.4%), household equipment (+0.4%), transport (+1.6%), recreation and culture (+0.4%), hotel-cafes-restaurants (+0.5%), miscellaneous goods and services (+0.4%). On the other hand, prices fell for food and non-alcoholic beverages (-0.1%), alcoholic beverages and tobacco (-0.4%), clothing and footwear (-6.4%).
The data also showed that in February, the harmonized index of consumer prices (HICP) - an indicator that allows to compare inflation in Greece with inflation in European countries - rose by 0.1% on a monthly basis and by 3.1% per year. The average HICP for the 12-month period from March 2023 to February 2024, increased by 3.6% per year.