Below 7% for the first time since February 2022 inflation in Greece, according to estimates made yesterday Eurostat for the harmonized consumer price index, it rose year-on-year in February 2023 by 6.5%. This, of course, is mainly due to lower energy prices as food prices continue to rise in both Greece and the Eurozone. Information about him National consumer price index which usually has very little deviation from the harmonized one, must be declared ELSTAT March 13, 2023. Recall that in January inflation in Greece amounted to 7%, and the harmonized consumer price index – 7.3%.

According to Eurostat, Greece ranked fourth in terms of inflation in the Eurozone in February after Luxembourg (4.8%), Belgium (5.5%) and Spain (6.1%). Of particular interest is the fact that, according to Eurostat data, Greece had negative energy inflation in February, with energy prices down 5.8% rather than lower growth rates. A similar phenomenon was recorded in Belgium (-14.5%) and the Netherlands (-1.1%). Data on inflation for food or other factors that make up the harmonized consumer price index are not yet available from Eurostat.

At the Eurozone level, inflation stood at 8.5% in February 2023, up from 8.6% in January 2023. Eurozone food prices show even stronger growth in February, at 15% from 14.1% in January, while energy prices, on the contrary, prices rose by 13.7% against 18.9% in January. The services group saw a 4.8% annual price increase compared to a 4.4% annual increase in January, and a 6.8% increase in the non-energy manufactured goods group compared to a 6.7% annual increase in January.

In addition to keeping food prices at a very high level, prices that cause a significant blow to household budgets and support social unrest, or as an antidote to this, the use of emergency measures to support incomes, such as various allowances – allowances, reflection also causes an increase structural inflation. Structural inflation in the euro area was 5.6% in February 2023, compared to 5.3% in January 2023 and 5% in December 2022. inflation in February, the most typical example of which is Germany (9.3% from 9.2%), as well as France (7.2% from 7%).

However, in terms of future food price developments, the FAO (Food and Agriculture Organization of the United Nations) food price index, which fell in January for the tenth consecutive month to 131.2 points, is encouraging. from 132.2 points in December 2022 and 135.6 points a year ago. February 2023 data released today.