Inflation: New acceleration in March in Greece – “Freno” in food price increases

In March, it was moderately accelerated in Greece, according to Eurostat, although in their sector the service recorded a slowdown in price increases. General inflation in the country accelerated to 3.4% from 3.1% last month, while food growth declined to 4.8% out of 5.8%. It should be noted, however, that Eurostat ‘measures’ food prices in a common category with alcohol and tobacco, and in particular data exclusively from food is not currently available from the European Statistical Office. In industrial goods the rate was slightly accelerated to 2.1% from 1.7% and the rate of reduction in energy prices was limited to -1% from -2.8%. In addition, services were accelerated at 3.9% from 3.5%. Finally, it is noted that structural inflation has also accelerated to 3.4% from 3% in February. Euro area inflation In contrast to the Greek general index, the euro area’s annual inflation was 2.4% in March 2024, from 2.6% in February. Looking at the main components of euro area inflation, services had the highest annual rate at 4%, stable compared to February, followed by food, alcohol and tobacco (2.7%, versus 3.9% in February), non-energy industrial goods (1.1%, versus 1.6% in February) and energy (1.8%, compared to -3.7% in February).