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Food inflation finally starting to decline

Food inflation finally starting to decline

The European Union’s Harmonised Index of Consumer Prices remained at 2.4% year-on-year last month, the same level as in May, according to estimates released by Eurostat on Tuesday. This is the eighth lowest inflation rate among eurozone member states. The news is much better in terms of so-called food inflation, as the index in the food-alcoholic beverages-tobacco group stood at 1.3% in Greece in June, compared to 2.4% in May.

Sources at the Ministry of Development said that this development is undoubtedly positive, adding: “A constant aim of our policy is to increase the disposable income of citizens. We are working to reduce prices and bring food inflation down to zero and even negative levels. We continue to work towards lower prices on the shelves, with more money at the disposal of citizens.”

However, the harmonised index showed a 1% monthly increase in June, the second largest increase in the eurozone after Malta.

At the eurozone level, the largest price increase in June compared to June 2023 occurred in the services sector, with a relative index of 4.1%, the same as in May.

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