The recent decline in electricity prices has been a decisive factor in maintaining negative inflation levels for September 2025, according to the Statistical Service and the Consumer Protection Agency’s Price Observatory. Despite price increases in certain food categories, the consumer price index has remained negative for the fourth consecutive month.

Steady Annual Inflation And The Role Of Energy Costs

The annual inflation rate stood at -0.7% in September, equivalent to August’s figures, following -0.9% in July and -0.4% in June. A notable 11% reduction in electricity costs on an annual basis has been the key influence in preserving overall price stability, with petroleum products also reflecting a 2.7% decrease.

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Differentiated Impact Across Economic Sectors

Comparisons with September 2024 reveal that the services sector experienced a 3% increase, while prices for food and non-alcoholic beverages dropped by 3%. Agricultural products decreased by 5%, despite a 3.5% rise from August 2025. Moreover, the Price Observatory recorded significant month-on-month increases for essential food items: frozen seafood and mollusks surged by 13.8%, fresh fish and mollusks by 12.7%, and fresh vegetables and greens by 9.5%. In contrast, fresh meat prices fell by 4%, with declines also noted for baby diapers (-2.4%), eggs (-1.8%), and breakfast cereals (-1.5%).

Enhanced Consumer Purchasing Power Through Energy Savings

The Consumer Protection Agency underscores that reduced energy costs—especially in electricity—have bolstered household purchasing power, mitigating the effects of isolated food price hikes.

Narrowing Price Gaps Across Supermarkets

An analysis of 228 common products across seven supermarket chains via the e-kalathi platform has shown a marked reduction in price differentials between premium and budget chains. In June 2025, the price gap was €230 (with prices at €990 and €760, respectively), narrowing to €147 by October (with prices at €961 and €814). For 40 common items, the price difference decreased from €43 on June 15 to €23 on October 15. The Agency advises consumers to use the e-kalathi tool for price comparisons, noting that price observatories serve as valuable informational resources rather than substitutes for personal market research.