Greece's Inflation Rate Soars to 5.1% Amid Energy Price Hike

Greece's inflation rate is expected to jump significantly in September, according to a flash estimate released by Eurostat. The annual inflation rate is projected to rise to 5.1% from 3.7% in August.

This surge in inflation is largely attributed to a sharp increase in energy prices due to heightened energy pressures linked to the conflict in the Middle East. Energy prices are expected to record the highest annual inflation rate among the main components at 18.8%, up from 14.3% in August.

Greece's inflation rate would place it fifth-highest in the eurozone, behind Lithuania, Bulgaria, Cyprus, and Luxembourg, all of which are expected to have rates above 5%. Spain follows Greece with an expected inflation rate of 5.0%, while Belgium is at 4.6%.