2023.06.0911:10:00UTC+00Greece Inflation Eases Slightly To 2.8%, Lowest In 20 Months

Greece's consumer price inflation eased further in May to the lowest level in more than one-and-a-half years, the Hellenic Statistical Authority said Friday.

The consumer price index climbed 2.8 percent year-over-year in May, following a 3.0 percent gain in April.

Inflation has slowed for the eighth successive month. Moreover, this was the weakest rate since September 2021, when prices had risen 2.2 percent.

On a monthly basis, consumer prices moved up 0.4 percent, after a 0.6 percent rise in the previous month.

The slowdown in inflation was largely impacted by a 12.9 percent plunge in housing costs and a 3.1 percent drop in transport charges.

Prices of food and non-alcoholic beverages grew 11.6 percent annually in May, and those of clothing and footwear surged 11.8 percent.

Further, data showed that EU harmonized inflation eased to 4.1 percent in May from 4.5 percent a month ago.

Month-on-month, the harmonized index of consumer prices increased 0.5 percent after a 1.1 percent rise.