Greece Inflation Slows to 3.4% in July as Energy Costs Fall

Greece's inflation rate has slowed to 3.4% in July, down from 4.4% in June, according to data released by the Hellenic Statistical Authority (ELSTAT). This deceleration signals a cooling of price pressures after a period of elevated inflation.

The slowdown is mainly attributed to lower energy costs and a stabilization in food prices, which had surged earlier in the year. However, services inflation remains sticky, keeping overall price growth above the European Central Bank's 2% target.

Greece's inflation trajectory is closely watched by policymakers and investors as the country continues its recovery from a decade-long debt crisis. Lower inflation supports real household incomes, which had been eroded by rapid price increases.