Greece reports slower property price growth and 5.2% inflation in May

The Bank of Greece says the rise in residential property prices continued at a milder pace in the first quarter of 2026, with an average increase of 5.7% across the country. New apartments (up to five years old) rose 6.0% while older units rose 5.5%. Regional gains were 5.2% in Athens, 6.4% in Thessaloniki, 5.4% in other major cities and 6.9% in the rest of the country. Revised data show the annual average increase for 2025 was 7.8%, down from 8.1% in 2024 for new apartments and stabilising at 8.4% for older ones.

Greek consumer‑price inflation slowed to 5.2% in May, slightly below April's 5.4%, according to ELSTAT. Price pressures remain strong, driven by energy and food. Fuel and energy costs rose sharply: heating oil +53.2%, other fuels +34.8%, diesel +24.4%, gasoline +21.5% and natural gas +21%. Airfare increased 19.2%. Food prices also jumped, with beef +17.6%, lamb/goat +16.2%, fish +12.6%, margarine and vegetable oils +10.6%, coffee +5.2% and vegetables +4.1%.