FX.co ★ Greek Producer Price Index Declines Further in May 2024

The Greek Producer Price Index (PPI) experienced a deeper decline in May 2024, according to data updated on June 28, 2024. The PPI for May settled at -1.4%, further descending from April's figure of -1.0%.

The latest indicator reflects a comparison between May 2024 and May 2023, presenting an increased year-over-year decline that indicates potential downward pressures on the pricing power of Greek producers. The previous month's indicator, marking a -1.0% decrease from April 2023 to April 2024, highlighted early signs of this trend.

Economists will be closely monitoring whether this development signals longer-term deflationary pressures in Greece or whether it is a transitory phase in the pricing ecosystem of Greek commodities and industrial products.