Inflation settled at 2.4% in May 2024, down from 3.1% in April, according to data from the Hellenic Statistical Authority (ELSTAT).
Month-over-month, the General Consumer Price Index (CPI) in May decreased by 0.3%, compared to a 0.4% increase in the same period the previous year.
The main contributors to the General CPI at 2.4% in May were changes in the following categories:
Increases:
1. Food and Non-Alcoholic Beverages: Up 3.1%, mainly due to price rises in meat, fresh fish, olive oil, fruits, vegetables, sweets, and beverages. This was partially offset by price drops in bread, cereals, dairy, eggs, and other edible oils.
2. Alcoholic Beverages and Tobacco: Up 1.6%, driven by increased prices for alcoholic beverages (excluding those served).
3. Clothing and Footwear: Up 6.4%, due to price increases in both clothing and footwear.
4. Health: Up 2.2%, due to higher prices for pharmaceutical products, medical services, and hospital care.
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5. Transportation: Up 4.0%, due to price hikes for new and used cars, car parts, fuel, vehicle maintenance, and air travel.
6. Leisure and Cultural Activities: Up 2.2%, with price increases in information processing equipment, leisure items, flowers, pets, cinemas, theatres, newspapers, books, and package holidays.
7. Education: Up 3.5%, due to higher fees for preschool, primary, secondary, and tertiary education.
8. Hotels, Cafes, and Restaurants: Up 5.0%, due to increased prices in restaurants, cafes, and canteens.
9. Other Goods and Services: Up 1.1%, driven by price increases in personal care services, personal items, health insurance, and vehicle insurance. This was partially offset by price decreases in other types of personal care.
Decreases:
1. Housing: Down 1.6%, mainly due to lower prices for municipal fees, electricity, and natural gas. Higher prices for house rents, maintenance, and heating oil partially offset this.
2. Durable Goods, Household Items, and Services: Down 0.3%, primarily due to decreased prices for immediate household consumption items. Price increases in household services partially balanced this decrease.
3. Communications: Down 1.2%, primarily due to reduced telephone service prices.
