Greek households face 5% inflation as consumer prices rise in April
Updated
Updated · tovima.com · May 7
Greek households face 5% inflation as consumer prices rise in April
8 articles · Updated · tovima.com · May 7
ELSTAT said the harmonised index hit 4.6%, up from 3.9% in March, while Finance Minister and Eurogroup chief Kyriakos Pierrakakis warned in Brussels of adverse scenarios.
Fuel, energy, transport and basic food costs are squeezing disposable income, weakening consumption, and prompting the government to keep a roughly €200 million buffer for possible support, including diesel subsidies.
The finance ministry raised its 2026 inflation forecast to 3.2% from 2.2%, while consumer confidence fell to -54.7 and surveys showed most households expect further price rises and plan to cut spending.
As Greek leadership gains EU praise, why are its people facing one of Europe's worst cost-of-living crises?
Is Greece's aid package a real solution, or a short-term fix pushing the economy towards stagflation?
With wages lagging and rents soaring, is homeownership in Greece now an impossible dream for the average person?
Greece Inflation Jumps to 5% in April 2026 Amid Middle East Conflict and Minimum Wage Increase
Overview
In April 2026, Greece faced a sharp inflation surge to nearly 5%, driven mainly by a global oil price spike caused by the Middle East conflict starting in mid-2025. This energy shock, combined with a 4.5% minimum wage increase, pushed up costs across the economy. As a result, Greek households saw their purchasing power decline and cut back spending, which hurt retail sales and raised operational costs in tourism. In response, the government launched substantial aid packages to ease the burden, while the ECB kept interest rates steady amid uncertainty. Despite these challenges, Greece's core inflation showed signs of easing, and growth is expected to remain positive but at a reduced pace due to ongoing geopolitical risks.