Eurostat: inflation in Greece and the eurozone

According to Eurostat, in April inflation was 3.2% in Greece and 2.4% in the eurozone.

Food remains a major concern for Greece, with inflation in the food, alcohol and tobacco category reaching 4.9% (from 4.8% in March), while the corresponding eurozone average reached 2.8% in April from 2. 6% in March. In this regard, Greece ranks second along with Croatia, behind Malta.

Let us recall that harmonized consumer price index in Greece in March amounted to 3.4% per annum compared to 3.1% in February. In the eurozone, the consumer price index fell to 2.4% year-on-year in March, down from 2.6% in February.

Main components inflation in eurozone for April:

• in the services sector (3.7% compared to 4% in March),
• food, alcohol and tobacco (2.8% compared to 2.6% in March),
• non-energy industrial goods (0.9% versus 1.1% in March),
• energy (-0.6% versus -1.8% in March).

Due to lower prices for these goods as well as services, core inflation, which excludes prices for energy, food, tobacco and alcohol, fell to 3.1% from 3.4% in March.

Germany
Inflation in Germany rose slightly to 2.4 percent in April, according to preliminary data from the Federal Statistical Office on Monday. As Reuters notes, German consumer prices, harmonized with the European Union, rose 2.3% year on year in March.

France
The country announced higher-than-expected inflation, increasing pressure on the European Central Bank to ease interest rate policy. In particular, according to the national statistics office, consumer prices in the eurozone's second-largest economy rose 2.4% in April, unchanged from March. Energy prices rose 3.8% and service price growth stabilized at 3%, offsetting a slowdown in food price inflation to 1.2% and a 0.1% fall in commodity prices. On a monthly basis Inflation rates in France accelerated from 0.2% in March to 0.5% in April.

Spain
Inflation rates in Spain increased for the second month in a row as… the government continues to cancel support measures that partially offset rising electricity prices. The consumer price index rose to 3.4% in April year on year. Excluding energy and some food inflation, it fell more than expected to 2.9% and the lowest level since 2022.

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