The Piraeus Chamber of Commerce and Industry (HEPA) compares the trajectory of prices in Greece with that of the eurozone and focuses on the implications for Greek entrepreneurship. As noted in a statement, “The Chamber does not limit itself to monitoring inflation but assumes an active role through analysis of developments, informing businesses, submitting proposals to the relevant authorities, and highlighting measures that can mitigate the impact of rising prices on the market.”
Specifically, the Chamber notes: “Theoretically, there can be no price increases without inflation; however, the paradox of the Greek market is that while the inflation rate is falling, the cost of living does not follow suit, maintaining a ‘high-cost daily reality.’ Approximately 80% of citizens have adjusted their household budgets, and businesses report declines in sales volumes, housing costs, and energy expenses.”
In this context, according to the latest data, the European Statistical Office (Eurostat) maintained its estimate of Greek inflation at 2.9% in December 2025. During the same period, annual inflation in the eurozone declined to 1.9%, from 2.1% in November, compared with 2.4% a year earlier. In the European Union (EU-27), annual inflation stood at 2.3% in December, compared with 2.4% in November and 2.7% in December of the previous year, confirming the general trend of price moderation.
Analysis of the data shows that the largest contributor to eurozone annual inflation in December 2025 was services, adding 1.54 percentage points with a contribution of 3.4%. This was followed by food, alcohol, and tobacco, contributing 0.49 percentage points (2.5%), and non-energy industrial goods, contributing 0.09 percentage points (0.4%). Conversely, energy had a negative contribution, subtracting 0.18 percentage points, with a negative impact of -1.9%.
According to HEPA, “Eurostat data indicate that inflation in Greece has decreased significantly compared with the high levels of previous years and is now moving closer to the eurozone average. This development is attributed both to implemented economic policies and external factors, such as the reduction of energy prices at the European level. Following a period of intense inflationary pressures, the Bank of Greece forecasts stabilization and further decline of inflation, which is expected to settle around 2.1% during 2025–2027. In this context, the so-called ‘creeping inflation,’ i.e., moderate price increases, is considered a controlled and functional condition that supports economic growth. However, accumulated price increases from 2021–2025, combined with annual rises in food and beverages (7%), services (7%), rents (8%), and energy (6%), continue to challenge efforts to address the cost-of-living pressures.”
At the same time, according to the European Commission’s Winter Economic Forecasts, the Greek economy is expected to continue growing at relatively strong rates, around 2.2% in 2026, while inflation is projected to gradually decline, remaining in the range of 2.3%–2.8% over the coming years. The central objective of economic policy remains the containment of inflationary pressures through fiscal stability and maintenance of a primary surplus, in order to avoid imbalances caused by increased demand without a corresponding expansion in supply.
Measures implemented so far to address rising costs include tax relief through reduced taxes, a zero-tax policy for new employees, elimination of property tax (ENFIA) in small villages, market oversight via complaint apps and price alerts, operation of producer-run markets, combating misleading “offers,” and support for household incomes in 2026–2027 through initiatives totaling approximately €2 billion for Greek households.
