Greek inflation rises to 5.7 percent in October

Greek inflation rose to 5.7 percent in October, up from 5 percent in September, according to data released by the Hellenic Statistical Authority (ELSTAT). The increase was driven primarily by climbing housing and transport costs. Housing, covering rent, water, electricity, and gas, recorded the largest annual rise at 15.1 percent, followed by transport at 13.8 percent. Natural gas prices rose 80 percent year on year, diesel climbed 39.4 percent, and petrol rose 25 percent. Home rents increased by 6.8 percent over the year. Conversely, olive oil prices fell by 8.4 percent and pasta dropped 4.2 percent. Average Greek inflation over the 12 months to October reached 3.9 percent.

What this means for you in Greece

If you are a property investor or a resident in Greece, the rising inflation—particularly in housing and energy costs—makes it essential to closely monitor your ongoing expenses and rental yields. It is recommended to consult with a local accountant or tax advisor to understand how these increases impact your property management, lease agreements, and budgeting. As economic conditions can shift, always verify the latest official figures with the Hellenic Statistical Authority (ELSTAT) or qualified professionals before making financial decisions.

FAQ

What was the inflation rate in Greece in October? Greek inflation rose to 5.7 percent in October, up from 5 percent in September.

Which sector recorded the largest annual increase? Housing, covering rent, water, electricity, and gas, recorded the largest annual rise at 15.1 percent.

Did any consumer prices decrease during this period? Yes, olive oil prices fell by 8.4 percent and pasta dropped by 4.2 percent.