Greece inflation hits 5.7%, the highest since early 2023
Greek prices rose 5.7% year on year in October, up from 5.0% in September. Housing with utilities and transport rose the most.
Event: November 10, 2026
Primary source: November 10, 2026
Published here: November 10, 2026 at 12:56 PM UTC
Read: 2 min
What happened
On November 10 Greece's statistics agency ELSTAT released the October consumer price index. Prices rose 5.7% year on year, up from 5.0% in September and 2.0% a year earlier. On the month prices rose 0.7%. It is the fastest annual pace since February 2023.
Why it matters to you
Housing, water, electricity and gas did most of the work: up 15.1% on the year. Transport rose 13.8% on diesel and petrol. That squeezes Greek households and tourists too: restaurants and hotels were up 5.8%.
What to check and watch
Average inflation over 12 months is already 3.9%. Watch whether energy prices cool after the drop in oil. The next data come in December. This is an overview, not advice.
Where it’s happening
LIVEDrag to spin. Green dots: the exchange is trading right now (regular hours, holidays not counted). Shadow: where it is night now. Borders: Natural Earth, quakes: USGS. Layer idea: God’s Eye View (MIT).
What happened. Greece's consumer price index rose 5.7% in October 2026 versus October 2025. In September the rise was 5.0%. On the month the index gained 0.7%. In ELSTAT's table the last higher annual rate was February 2023 at 6.1%.
What rose most. Housing, water, electricity, gas and other fuels were up 15.1% on the year: rents, repairs, electricity, gas, heating oil. Transport rose 13.8%: diesel, petrol, car repairs, air tickets. Restaurants, cafes and hotels rose 5.8%.
What barely moved. Food and soft drinks rose 2.1% on the year. But in October alone food rose 2.3%. Information and communication fell 2.2% on the year. Alcohol and tobacco fell 0.2%.
The trend. The 12-month average index rose 3.9%, versus 2.5% a year earlier. Inflation reached 5.4% in the spring, eased to 3.4% in summer and has climbed again this autumn.
Why markets care. Greece is in the euro area, so the ECB sets its interest rate. Fast price growth in member states feeds the debate on keeping rates higher. How much this weighs on ECB decisions is not yet known.
Confirmed facts
- Greece's consumer price index rose 5.7% year on year and 0.7% month on month in October 2026.[1][2]
- Annual inflation was 5.0% in September 2026 and 2.0% in October 2025.[1]
- Housing, water, electricity, gas and fuels rose 15.1% on the year, transport 13.8%.[1]
- Restaurants and accommodation rose 5.8% on the year, food and soft drinks 2.1%.[1]
- Information and communication fell 2.2% on the year.[1]
- The 12-month average index rose 3.9%.[1]
- The last time annual inflation was higher was February 2023, at 6.1%.[1]
Implications
- ConfirmedGreek inflation accelerated in October for a second month in a row.
- Our readingEnergy and housing drive the rise, not food. This is our reading of ELSTAT data.
- Our readingLower oil prices could slow fuel inflation in coming months. This is our inference.
Still unknown
- Whether inflation keeps rising in November
- How the Greek government responds to rising housing and energy costs
- How the ECB weighs single-country data
Who it affects
Greece, Europe. People living in or travelling to Greece, and anyone watching ECB rates and the euro
Sources
- Hellenic Statistical Authority (ELSTAT): Consumer Price Index: October 2026, annual inflation 5.7% November 10, 2026 · official
- Investing.com: Greece's annual inflation rises to 5.7% in October November 10, 2026 · media
Cover: Freekonomist graphic, a symbolic image, not a photo of the event. This is a news explainer, not financial advice.
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