Greek Annual Inflation Rate Rose 1.9% in August

September 10, 2021

ATHENS — Greek annual inflation rose to 1.9 pct in August from 1.4 pct in July and after a -1.9 pct decline in August last year, Hellenic Statistical Authority said on Friday. The statistics service, in a monthly report, said that in the August 2021-August 2020 period, very large price increases were recorded in items directly affecting production such as natural gas (91 pct), heating oil (28.9 pct), fuel (17.4 pct) and electricity (0.8 pct).

In the August 2021-July 2021 period, price increases were recorded in: natural gas (10.2 pct), vegetables (10.6 pct), fresh milk (2.9 pct), olive oil (2.9 pct), poultry (2.8 pct), bakery (2.1 pct), pork meat (1.8 pct), fresh fish (1.3 pct), fuel (0.8 pct), while price decline were recorded in: air fares (13.7 pct), cereals (7.5 pct), fresh fruit (0.9 pct), personal care (0.8 pct).

The 1.9 pct increase in the consumer price index was attributed to price increases in: food/beverage 3 pct, housing 4.4 pct, transport 6.7 pct, hospitality 0.2 pct and to price declines in: alcohol/tobacco 0.4 pct, clothing/footwear 2.6 pct, durable goods 0.5 pct, health 0.5 pct, communication 2.6 pct and entertainment 0.7 pct.

Greece's harmonised inflation rate rose 1.2 pct in August after a 0.7 pct increase in July and a 2.3 pct decline in August 2020. On a monthly comparison (August to July), the harmonised inflation rate fell 0.1 pct.


The continuation of the pandemic continues to raise hurdles in forecasting the short-term trend of the country's Gross Domestic Product, but based on available data the Greek GDP is expected to rise by 5,2% in the first half of 2022 (7% in the first quarter and 3.

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