Inflation: Food and Rent Hikes Pressure Households and Businesses

Inflation in Greece reached 2% in October, with the largest increases recorded in chocolate products (21.1%), coffee (19.3%), meats (10.6%), fruits (9.1%), and housing rents (8.9%), according to ELSTAT.

Decreases were observed in olive oil (-36.9%), natural gas (-6.3%), heating oil (-4.3%), and electricity (-3.3%).

Beef prices increased by 5.3% in October alone, while prices for lamb and goat increased by 3.4% and pork by 1.6%.

The president of ESEE, Stavros Kafounis, emphasized that business rents are a significant problem and also referred to competition from Asian platforms.

According to the Hellenic Livestock Association (SEK), domestic beef production covers only 10%-20% of needs, making Greece vulnerable to international price fluctuations.