Food inflation showing signs of ebbing

Inflation in Greece stood at 2.9% last month, down from 3.1% in January 2024, while the slowdown of food price growth was even greater, data from the Hellenic Statistical Authority (ELSTAT), released on Friday, showed.

Food inflation dropped to 6.7% in February (on an annual basis) from 8.3% in January 2024.

However, on a monthly basis, there were significant price hikes recorded again in basic food items, while recent increases in fuel prices maintained inflationary pressures.

The figures, of course, do not capture the impact of the new anti-punctuation measures, since they came into effect on March 1.

According to the analytical data by ELSTAT, the price of eggs increased in February by 4.4% compared to January, fresh fish by 3.3%, juices by 2.6% and beef by 1.1%.

A 4.4% increase was also recorded in the price of diesel, of heating oil (by 4.3%)...