Brief economic review to know what awaits us
Inflation in Greece is expected to rise to 3.7% - 3.8% in 2026 due to the recent energy shock, before falling significantly to 2.4% - 2.7% in 2027 and approach 2.4% in 2028.
The official projections of the major domestic and international economic organizations regarding the trend in consumer prices are as follows:
Forecasts by Year (2026–2028)
2026: A temporary acceleration in prices is expected. The European Commission and the Bank of Greece forecast inflation at 3.7% to 3.8% , due to the sharp rise in energy prices and the pass-through of costs to other goods.
2027: A significant decline is expected. The European Commission projects the rate at 2.4%, the Bank of Greece at 2.6%, while the IOBE and the rating agency Scope Ratings estimate that it will be around 2.7%.
2028: The downward trend will continue, with long-term forecasts (such as those from Trading Economics and the Central Bank) are set to “anchor” inflation near 2.4% .
Key Factors and Trends
Energy Costs: The rise in 2026 is driven by international pressures on commodity prices, which, however, are expected to gradually ease starting next year.
Core Inflation: Although the overall index will decline, inflation excluding energy and food (core inflation) will remain stubbornly high, as price increases are being passed on to services and non-energy goods.
Deviation from the Eurozone: Greece is expected to record inflation rates slightly higher than the Eurozone average (which is projected at 3% for 2026 and 2.3% for 2027).
Comments