In June, nominal inflation in the Eurozone stood at 1.9%, while in Greece it reached 3.6%, according to the Bank of Greece’s updated analysis for the month. Meanwhile, the first interest rate cut by the European Central Bank (ECB) is expected to occur in December 2025, by 25 basis points.

The Bank of Greece highlights that in June, the differences between Greece and the Eurozone in terms of both headline (nominal) and core inflation continued to expand.

According to the BoG’s new monthly report, headline inflation in the Eurozone, based on the Harmonized Index of Consumer Prices (HICP), declined to 1.9% in June from 2.0% in May.
This change is attributed to marginal increases in services inflation and unprocessed food, as well as a less negative contribution from energy prices.
However, these effects were partially offset by a decline in inflation for processed food and non-energy industrial goods.

Core inflation (HICP excluding energy and food) remained stable at 2.3%, as the increase in services inflation was balanced by a decline in non-energy industrial goods inflation.