In January 2026, Greece experienced an inflation rate of 2.5% compared to the same month in the previous year, according to data from ELSTAT. This marks a decrease of 0.8% from December 2025, indicating a slight easing of inflationary pressures. The inflation rate aligns with the trend observed over the past twelve months, showing an increase of 2.5% from February 2025 to January 2026 against a higher increase of 2.7% in the previous year period from February 2024 to January 2025.

Key contributors to the rising inflation include sharp price hikes in various food categories, notably beef, which saw a staggering increase of 25.4%, along with significant rises in lamb (8.5%) and fruits (11.8%). Additionally, chocolate prices surged by 20.3%. Conversely, olive oil prices experienced a significant decrease of 30%. Rent also saw a notable increase of 8.7%, while clothing and footwear prices rose by 8%. These figures suggest that while essential costs for consumers are climbing, certain sectors, particularly energy, are seeing favorable adjustments.

In the realm of energy costs, natural gas prices fell dramatically by 25.8%, and heating oil prices decreased by 9.5%. This divergence in price trends may provide some relief to consumers amid otherwise increasing living costs, especially in areas like food and housing. The overall economic indicators suggest a complex landscape where inflation remains a pressing concern, but also potential relief in energy sectors offers a mixed outlook for consumers and policymakers in Greece.