Eurobank warns: energy prices are squeezing Greek household budgets

A new Eurobank analysis, published on September 25, warns that rising energy inflation could significantly squeeze Greek household budgets and weaken consumer spending in the second half of 2026, as Greek Reporter reported on September 26.

According to the bank, the Greek economy showed resilience through August, but the warning sign comes after a strong rebound in inflation. The consumer price index rose 3.8% in August 2026 compared with the same month a year earlier, up from 3.4% in July. Under Eurostat’s harmonized index, inflation in Greece reached 3.7%, well above the eurozone average of 3.2%. The heaviest burden comes from energy and housing.

Annual fuel price increases are particularly steep just ahead of the heating season: heating oil rose 53.2%, natural gas 40.2%, diesel 30.6% and petrol 15.3%. Pressure is also visible in the wholesale electricity market: on September 22 the price reached €211.76 per megawatt-hour, compared with €76 a year earlier — a 177.6% increase.

The Bank of Greece forecasts energy inflation of 11.1% for 2026 and headline inflation of 3.8%. Beyond the pressure on household budgets, Eurobank’s analysis also flags risks for Greek exports in the coming months.