Strengthening inflationary pressures in the Greek economy for 2026 because of energy prices, the Bank of Greece predicts.
In the Inflation Bulletin released today by TTE, it provides that the General Index of Consumer Prices in Greece will be strengthened at 3.8% in 2026 and 3.0% in the Eurozone, mainly powered by the recent shock in energy prices.
The 2027, general inflation is expected to slow significantly both in Greece and the Eurozone (at 2.6% and 2.3% respectively), as pressure from energy prices is weakening.
▪ We published today the new “Inflation Monitor”.
▪ We published today the new "Inflation Monitor".
🔗 https://t.co/ArlZQmxYnf pic.twitter. com/6fePuAPOW— Bank of Greece (@BankofGreece) June 15, 2026
TTE economists attribute the large gap in inflation to Greece compared to the euro area in energy prices. As they say: "Energy inflationary pressure in Greece over the past two months has been about twice the Eurozone average, mainly due to the historically stronger adjustment of energy inflation in Greece compared to the Eurozone".
In particular, energy inflation is expected to climb to 11.1% (as against 8.4% in the euro area) reflecting strong increases in energy prices and slowing down to 1.0% in 2027 due to the strong downward effects of the benchmarking base and the expected deescalation of energy commodity prices. The integration of the ETS2 system is expected to feed energy inflation to 2.4% in 2028.
It is noted that the Harmonised Consumer Prices Index in May was significantly enhanced to 3.2% in the eurozone (preliminary estimate) and 4.9% in Greece, while inflation in the US increased to 4.2% in May, marking the third consecutive month in which the effects of the war were reflected in inflation developments, mainly through prices in energy and commodities.