His downfall inflation at the foods offset by rising service prices, keeping the consumer price index in Greece unchanged at 2.4% in June.
This is the ninth lowest inflation rate in the eurozone. Based on its preliminary data Eurostatat the euro area level, the harmonised index of consumer prices fell marginally to 2.5%, compared with 2.6% in May.
Eurozone #inflation expected to be 2.5% in June 2024, down from 2.6% in May. Components: services +4.1%, food, alcohol and tobacco +2.5%, other goods +0.7%, energy +0.2% – flash estimate https://t.co/9Kfk797fhj pic.twitter.com/IFcPkfFtOM
—EU_Eurostat (@EU_Eurostat) July 2, 2024
In our country, there has been a significant slowdown in the food inflation rate, with the increase reaching 1.3% in June, compared to 2.4% in May and 4.8% in April. This is the second lowest food inflation among the euro area Member States, after Finland, which stood at 0.8%.
However, the main reason for inflation remaining at the same level as May in June was services, as the rate of price increase increased to 4.4% last month, compared with 3.4% in May. The largest fall was recorded in energy prices, which fell by 2.5% in June, compared with a 1.8% drop in May. Structural inflation in Greece, i.e. excluding food, beverages, tobacco and energy products, rose to 3.4% in June, compared with 2.8% in May.
The image in the euro zone
At the euro area level, the growth rate of prices in the food and beverages and tobacco sector reached 2.5% in June, up from 26% in May. Energy prices rose by 0.2%, up from 0.3% in May. The growth rate of services in the euro area remained unchanged at 4.1% in June.
Inflation in Germany fell more than expected in June, reaching 2.5%, from 2.8% in May. In Italy, it rose to 0.9%, from 0.8% in May. In contrast, inflation in Spain fell to 3.5%, from 3.8% in May, and in France, to 2.5% in June, from 2.6% the previous month.