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Economy

Greek Annual Inflation Rate Jumped to 6.2% in January

February 15, 2022

ATHENS – The Greek annual inflation rate jumped to 6.2% in January from 5.1% in December and -2% in January 2021, Hellenic Statistical Authority said on Tuesday. More specifically, all items included in the so-called “basket of goods” recorded price increases in the January-December period, with the exception of lamb/goat meat (-7.3%). Prices rose 7.8% for wheat, 6.6% for fresh vegetables, 5% for fruit juice, 4.4% for potatoes, 3.5% for yoghurt, 3.1% for honey-marmelade, 2.4% for fresh fish, 2.4% for alcohol, 2.4% for wines, 2.1% for pork meat, 2.1% for milk, 1.5% for cheese and 0.8% for fresh fruit. Prices also rose 14.2% for natural gas, 8.8% for electricity, 5.2% for heating oil, 4.4% for hotels, 2.5% for personal care, 2.3% for fuel and 0.9% for new cars.

On an annual basis, prices rose 17.6% for goat/lamb meat, 17.3% for other edible oils, 15.4% for olive oil, 14.4% for fresh vegetables, 12.3% for potatoes, 8.4% for fresh fruit, 7.1% for pasta, 6.6% for wheat, 6.3% for cheese, 6.1% for yoghurt, 5.9% for fresh fish, 5% for bread, 4.7% for poultry and 3.9% for chocolates. Coffee prices were up 3.2%, natural gas soared 154.8%, electricity jumped 56.7%, heating oil rose 36%, fuel was up 21.6%, used cars rose 11.5%, air transport rose 11.4%, new cars rose 8.7% and clothing-footwear was up 7%.

The statistics service attributed the 6.2% increase in the consumer price index to prices increases of 5.2% in food/beverages, 7% in clothing/footwear, 22.6% in housing, 3% in durable goods, 11.1% in transport, 0.9% in education, 1.6% in hospitality and 0.4% in other goods and services, while healthcare prices fell 0.1%, communications were down 3.2% and entertainment eased 0.5%.

The consumer price index eased 0.3% in January to December, while the country’s harmonised inflation rate rose 5.5% in January after a -2.4% reading in January 2021. On a monthly basis, the index eased 0.2%.

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