Recent inflation developments in Greece and the Eurozone.

The Greek Economic Outlook report states that headline inflation in Greece was 1.6% in September 2023, below the European Central Bank's target of 2.0%. However, core inflation remained high at 3.9%. Rising food prices were the main driver of inflation, while the housing group had a significant negative contribution. Greece had the third lowest inflation rate in the Eurozone, which had an overall inflation rate of 4.3%. The report provides detailed data on the Harmonized Index of Consumer Prices (HICP) in Greece, including monthly data and annual percentage changes in various categories. It also analyzes external and internal inflationary pressures in the Greek economy, focusing on the impact of the import deflator on GDP and internal demand deflator. The report examines price developments of imported goods and differences between Greece and the euro area. It concludes by discussing the contribution of unit profits and unit labor costs to domestic inflation in Greece, highlighting the positive contribution of unit profits and the negative contribution of unit labor costs. The report suggests that companies have passed on increases in energy costs to product prices, contributing to inflation. [Extracted from the article]