The pace of inflation slowed further for the third consecutive month in July this year, rising by 3.4%, down from 4.4% the previous month, compared with an increase of 3.1% in July last year.
This development was driven by relatively restrained price increases in food and food products, as well as in certain services, despite year-on-year price increases in fuels, particularly diesel.
Specifically, food and food product price increases were recorded in:
- Beef (14.3%)
- Lamb and goat meat (12.4%)
- Pork (3.4%)
- Poultry (2.2%)
- Salted fish (9.6%)
- Margarine and other vegetable fats (8.6%)
- Dairy products and eggs (2.9%)
- Bread and other bakery products (1.2%)
On the other hand, olive oil prices fell sharply (21.7%), while price decreases were also recorded for:
- Fruit (9.4%)
- Vegetables (1.5%)
- Ice cream (8.8%)
- Salt, sauces, and seasonings (5.8%)
Price increases were also recorded in:
- Clothing and footwear (3.3%)
- Residential rents (6.8%)
- Home repair and maintenance (4.8%)
- Various housing-related services (5.5%)
- Package holidays (6.2%)
- Restaurants, pastry shops, fast-food outlets, and cafeterias (6.4%)
- Health insurance premiums (7.0%)
- Motor vehicle insurance premiums (1.9%)
- Hairdressers and personal care establishments (4.2%)
In the energy sector, year-on-year price increases were recorded for:
- Diesel fuel (22.0%)
- Gasoline (13.3%)
- Natural gas (16.7%)
- Heating oil (53.2%)
- Solid fuels (4.1%)
As a result, air passenger transport fares increased by 17.5%. In contrast, electricity prices declined by 2.8%.
On a monthly basis, between July and June 2026, price increases continued, among others, in:
- Diesel fuel (12.1%)
- Gasoline (0.3%)
- Air passenger transport (13.7%)
- Eggs (3.5%)
- Pork (2.0%)
- Cheese (1.0%)
- Electricity (0.6%)
- Rents (0.3%)
Meanwhile, prices fell in July for:
- Fruit (13.1%)
- Natural gas (3.7%)
- Lamb and goat meat (2.4%)
- Yogurt (2.9%)
- Vegetables (1.7%)
- Off-premises alcoholic beverages (1.5%)
- Recreational services (2.8%)
- Travel goods and other personal items (3.3%)
According to ELSTAT, the increase in the overall Consumer Price Index (CPI) in July was mainly due to changes in the following groups of goods and services:
1. Increases in the indices:
- 0.4% in Food and non-alcoholic beverages, mainly due to higher prices for bread and other bakery products, beef, pork, lamb and goat meat, poultry, salted fish, dairy products and eggs, margarine and other vegetable fats. Part of this increase was offset by lower prices for fresh or frozen fish, olive oil, fruit, vegetables, ice cream, and salt, sauces, and seasonings.
- 3.3% in Clothing and footwear, due to higher prices for clothing and footwear.
- 8.8% in Housing, mainly due to higher prices for residential rents, home repair and maintenance, various housing-related services, natural gas, heating oil, and solid fuels. Part of this increase was offset by lower electricity prices.
- 0.4% in Durable goods, household items and services, mainly due to higher prices for other household goods and domestic services. Part of the increase was offset by lower prices for household textiles, household appliances, and repairs.
- 1.1% in Health, mainly due to higher prices for medical products, outpatient care services, and hospital services. Part of the increase was offset by lower pharmaceutical prices.
- 7.4% in Transport, mainly due to higher prices for diesel fuel, motor fuels (gasoline), maintenance and repair of personal transport equipment, other personal transport services, and air passenger tickets. Part of the increase was offset by lower prices for used cars.
- 1.3% in Recreation, sports and culture, mainly due to higher prices for gardening products and pets, cultural services, and package holidays.
- 2.8% in Education, mainly due to higher tuition fees in preschool and primary education, and secondary education.
- 5.8% in Hotels, cafés and restaurants, mainly due to higher prices in restaurants, pastry shops, fast-food outlets, and cafeterias. Part of the increase was offset by lower hotel, motel, and inn prices.
- 3.4% in Insurance and financial services, mainly due to higher health and motor vehicle insurance premiums.
- 1.1% in Personal care, social protection, and miscellaneous goods and services, mainly due to higher prices for hairdressers, personal care establishments, and other services. Part of the increase was offset by lower prices for personal hygiene and care products, transport equipment, travel goods, and other personal items.
2. Decreases in the indices:
- 0.5% in Alcoholic beverages and tobacco, mainly due to lower prices for off-premises alcoholic beverages.
- 2.7% in Information and communication, mainly due to lower prices for information and communication equipment, mobile telephone services, and telephone service packages.
At the same time, the overall index recorded a 1.4% decrease in July 2026 compared with July 2026, whereas the corresponding comparison in the previous year had shown a 0.4% increase.
Regarding the Harmonised Index of Consumer Prices (HICP), it increased by 2.7% in July, down from 3.9% in June, compared with an increase of 3.7% in the corresponding comparison of July 2025 versus July 2024. On a monthly basis, the HICP increased by 1.4% in July 2026 compared with June 2026, compared with a 0.3% decrease in the corresponding comparison of the previous year.
Note: The original Greek text appears to contain a likely typographical error in the sentence stating that “the overall index recorded a 1.4% decrease in July 2026 compared with July 2026.” The translation preserves the original wording without correction.
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