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Inflation in Greece at 3.4% in August, says Eurostat

The eurozone’s annual inflation rate is expected to remain stable to 5.3% in August compared with the previous month, Eurostat said in its flash estimate.

Looking at the main components of inflation in the eurozone, food, alcohol and tobacco are expected to have the highest annual rate in August (9.8% compared to 10.8% in July), followed by services (5,5% compared to 5.6% in July ), non-energy industrial goods (4.8% compared to 5.0% in July) and energy (-3.3% compared to -6.1% in July).

Euro area annual inflation - August 2023, %

In Greece, annual inflation is expected to ease slightly to 3.4% in August from 3.5% in July.

In August, the highest level of inflation in the eurozone was recorded by Slovakia (9.6%), Croatia (8.5%), Austria (7.6%) and Lithuania and Germany (6.4%).

The lowest inflation in the eurozone is recorded by Spain and Belgium (2.4%), Cyprus (3%) followed by Greece, Finland and the Netherlands (3.4%).

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  1. This due to tourism it most likely will drop quick after sales drop after tourism season