According to Eurostat's first estimate released today (Wednesday 31/07), annual inflation in Greece was 3% in July, down from 2.5% in June.
Looking at the main components of euro area inflation, the highest annual rate in July is expected to be recorded in services (4.0%, compared with 4.1% in June), followed by food, alcohol and tobacco (2.3%, compared with 2.4% in June), energy (1.3%, compared with 0.2% in June) and non-energy industrial goods (0.8%, compared with 0.7% in June).
The data came a day after the eurozone's second-quarter GDP figure came in at 0.3%, slightly above expectations.
GDP data provide an early benchmark for the ECB, which has so far focused more on price pressure dynamics than growth concerns, but that balance could change.
The ECB highlighted concerns about near-term growth at its latest meeting, so markets will be watching for reasons to accelerate interest rate cuts. Earlier, French GDP data came in slightly better than expected and continued to point to a gradual recovery in the euro zone's second-largest economy.
More Stories
Bloody August in Greece
Eurostat: Inflation Falling in Eurozone, Not in Greece
Inflation in Greece in July was 3%, according to Eurostat