This marks a slowdown from the 3.1% increase recorded in January 2024 compared to January 2023. On a month-to-month basis, the Consumer Price Index (CPI) fell by 0.7% from December 2024.
The inflationary pressures were primarily driven by rising prices in key sectors. The steepest increases were observed in clothing and footwear (+5.4%), housing (+4.6%), and the hospitality sector, including restaurants and hotels (+5.1%). Transportation costs also rose by 3.3%, healthcare by 3.5%, and education by 2.6%.
However, some price hikes were offset by decreases in specific categories. In the food and non-alcoholic beverages sector, the overall increase was just 0.1%, as rising prices for meat, fish, nuts, and sugar were partially counterbalanced by declining prices for bread, dairy products, and olive oil. Similarly, while housing costs rose due to higher rents and energy prices, the impact was mitigated by falling prices for heating oil and solid fuels.
Looking at the broader trend, the average CPI for the twelve-month period from February 2024 to January 2025 increased by 2.7%, down from a 3.2% rise in the previous twelve-month period. While inflation in Greece is showing signs of easing, prices for essential goods and services remain high, putting continued pressure on consumers, particularly in housing, dining, and clothing.
