Inflation and Constant Deprivation Shock Greece

GREEK ECONOMY
08.08.25 14:13
efsyn.gr
Soaring year-on-year increases in electricity, rent, and essential retail goods were recorded by ELSTAT (Hellenic Statistical Authority) from July 2024 to July 2025. These figures demonstrate that even the minimal wage increases granted never translated into increased purchasing power for workers. The numbers categorically refute government narratives about the alleged improvement in citizens' incomes and living standards.
Inflation reached 3.1% for July 2025, according to ELSTAT data. This represents an acceleration from June's 2.8%. Comparing the General Consumer Price Index (CPI) for July 2025 with the corresponding index for July 2024 shows a 3.1% increase, compared to a 2.7% increase in the corresponding comparison between 2024 and 2023.

The General CPI in July 2025, compared to June 2025, showed a 0.4% decrease, compared to a 0.7% decrease in the same comparison the previous year.

The average CPI for the twelve-month period August 2024 – July 2025, compared to the corresponding index for August 2023 – July 2024, showed a 2.6% increase, compared to a 2.8% increase in the corresponding comparison between August 2023 – July 2024 and August 2022 – July 2023.

By Product and Service Groups:

The 3.1% increase in the General CPI in July 2025, compared to July 2024, stemmed mainly from increases in the following indices:

• 8.4% in the Clothing and Footwear group, due to increased prices in clothing and footwear items.
• 6.6% in the Housing group, mainly due to increased prices in: rents, home repair and maintenance, home-related services, electricity, and natural gas. Part of this increase was offset by a decrease in heating oil and solid fuels.
• 6.2% in the Hotels-Cafés-Restaurants group, mainly due to increased prices in: restaurants, pastry shops, cafes, and hotels.
• 2.8% in the Food and Non-Alcoholic Beverages group, mainly due to increased prices in: bread, other bakery and pastry products, meat (in general), fresh fish, yogurt, fruit (in general), frozen vegetables, sugar-chocolates-sweets-ice cream, and coffee. Part of this increase was offset by a decrease in pasta and olive oil.
• 2.6% in the Education group, mainly due to increased prices in: preschool and primary education tuition fees and secondary education tuition fees.
• 2.0% in the Health group, mainly due to increased prices in: pharmaceuticals, medical products, medical-dental and paramedical services, and hospital care.
• 2.1% in the Communications group, mainly due to increased prices in telephone services. Part of this increase was offset by a decrease in mobile phone equipment.
• 1.8% in the Alcoholic Beverages and Tobacco group, mainly due to increased prices in: alcoholic beverages (non-served), and cigarettes.
• 0.8% in the Recreation-Cultural Activities group, mainly due to increased prices in: small recreation items-flowers-pets, recreational and cultural services, and holiday packages. Part of this increase was offset by a decrease in sound and image processing equipment, information processing equipment, and durable recreational goods.
• 0.6% in the Other Goods and Services group, mainly due to increased prices in: hairdressers and personal care shops, social protection services, health insurance, and other services. Part of this increase was offset by a decrease in other personal care items and vehicle insurance.

Electricity, Rent, Insurance, Supermarkets: Shocking Increases

The data regarding price increases by product/service type are alarming. There are drastic year-on-year increases in electricity, rent, and absolutely essential retail goods, proving that even the minimal wage increases granted never translated into increased purchasing power for workers. In short, the numbers categorically refute government narratives about the alleged improvement in citizens' incomes and living standards.

By item, the most significant price changes from the comparison of July 2025 and July 2024 indices stand out:

• Fruit (19.3%)
• Electricity (18.9%)
• Coffee (16.8%)
• Residential rents (11.3%)
• Clothing and footwear (8.4%)
• Health insurance (7%)
• Fresh fish (7%)
• Sugar-chocolates-sweets-ice cream (6.4%)
• Holiday package (6.4%)
• Meat (6.2%)
• Restaurants-pastries-cafes-kiosks (6%)
• Other bakery and pastry products (5.8%)
• Hotels-motels-inns (5.7%)
• Natural gas (4.4%)
• Frozen vegetables (3.6%)
• Yogurt (3.4%)
• Bread (2%)

Compared to June 2025:
Over one month, price increases occurred, among others, in:

• Air passenger transport (11.8%)
• Olive oil (9.5%)
• Electricity (5.7%)
• Coffee (5.3%)
• Other food (3%)
• Poultry (2.6%)
• Natural gas (2.7%)
• Fresh vegetables (1.1%)
• Beef (1.1%)
• Fresh fish (1%)
• Sugar-chocolates-sweets-ice cream (1%)
• Residential rents (0.6%)
• Fuels and lubricants (0.2%)

The Only Decrease and its... Neutralization:

A 1.1% decrease was recorded only in the Transportation group, mainly due to lower prices in used cars, fuels, and lubricants. However, part of this decrease was offset by increased prices in: new cars, car parts and accessories, maintenance and repair of personal transport equipment, other services related to personal transport, and air passenger transport tickets.