Inflation in Greece accelerated again in December, returning an atmosphere of anxiety to households. Rising priceswhich has spread to almost all segments of the economy, continues to hit consumers’ wallets, and the first signals 2026 look disappointing.
After a short period of slowdown inflation exceeded the mark again 2%. According to the latest data Eurostateven before completion 2025 Greece’s harmonized annual rate rose to 2.9%accelerating compared to the previous month.
In fact, the last two months of 2025 returned the country to “factory settings” – above the eurozone averageand the period September–October turned out to be only a short respite.
Food and housing: the main blow to the budget
After almost 4.5 years high cost of living food And housing remain key pressure factors on Greek households. According to European statistics, the rise in prices for products, including alcohol and tobacco, accelerated to 3.5% against 2.7% in November.
The largest reduction in prices is observed in the category of non-food products. At the same time, basic everyday goods continue to rise in price at a rapid pace, increasing the burden on family budgets.
For the average Greek household, food costs are a larger share of incomethan the eurozone average. Therefore, any increase in price in this category has more painful social effectespecially for economically vulnerable segments of the population.
2026: Risk remains
The inflation “monster” in 2026may be less aggressive than in previous years, but its “teeth” remain sharp. The first signals of the new year are cause for concern.
Global geopolitical instability – US intervention in Venezuela, tensions around Iran and the ongoing conflict in Ukraine – can trigger at any moment a new wave of price increases.
External risks are complemented by internal problems. Despite targeted measures, the Greek government has not yet been able to achieve a sustainable reduction in prices, as a result households are pushed to the limit.
Weak stability supply chainchronic lack of real competition and passing on costs to the consumer maintain inflationary pressure, while a number of other countries EU demonstrates the best results in containing it.
Oil is getting cheaper, but that’s not enough
According to a recent analysis Goldman SachsV 2026 Oil prices may decline due to increased production. Average price forecast $56 per barrel Brent And 52 dollars per barrel of American oil WTI.
However, opposing forces are also at work. Chapter Τράπεζα της Ελλάδος Giannis Stournaras noted that after the introduction of American duties, China is more actively promoting goods to Europe, reducing prices, but at the same time investment needs in climate policy And defensewhich again pushes prices up.
Consumer pessimism
Economic research ΙΟΒΕ for December 2025 captures the cautious optimism of business and noticeable consumer pessimism. In the retail trade, companies expect moderate inflation, in the service sector – further price increases, while in the hotel and restaurant business there is a temporary slowdown after a sharp jump in prices a year earlier.
Among households 56% expect prices to continue to rise at the same or faster pace, and 59% admit that they are “barely making ends meet.” More than half of Greeks predict deterioration financial situation of the country and their families in the next 12 months.
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