Import prices in the industrial sector rose by 13.3% in May compared to May 2025, according to data released by ELSTAT—the Hellenic Statistical Authority. This marks a sharp reversal from the 4.2% decline recorded in May 2025.
‘Import Inflation’ Driven by Global Energy Costs
This increase in so-called ‘import inflation’ was primarily driven by higher international costs for oil extraction and refining. ELSTAT attributed the rise to two main factors:
- A 22.2% increase in import prices from countries outside the eurozone
- A 2.2% increase in import prices from eurozone countries
On a monthly basis, however, the general import price index fell by 5% in May 2026 compared to April 2026—steeper than the 0.7% decline observed in the same month-to-month comparison in 2025.