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Economy

Greek Inflation Rate Slowed Slightly to 11.4% in August

September 9, 2022

ATHENS – Greek annual inflation rate slowed to 11.4% in August from 11.6% in July, from 1.9% in August last year, Hellenic Statistical Authority said on Friday. However, energy, food, holiday and services prices recorded significant increases, with natural gas prices up 261.3%, heating oil up 65.1%, electricity prices up 38.5%, fuel-lubricants up 21.5% and solid fuel up 11.4%.

More specifically, price increases in the so-called “housewife’s basket” were recorded in oils (25.5%), bread-cereals (18.5%), dairy-eggs (18%), meat (17.1%), coffee-cocoa-tea (12.5%), other food (11.4%), vegetables (7.9%), sugar-chocolate-deserts-ice creams (6.3%), mineral water-beverage-juices (5.5%), alcohol (4.3%), fish (3.7%) and fruit (1.7%). Price increases were also recorded in air travel (71.4%), taxi transport (32.9%), ship travel (25.4%), hotels (16.4%), used cars (15.9%), cinemas (13.9%), household items (13.6%), new cars (12.9%), holidays (12.6%) car parts (8%), furniture (97.1%), motorcycles (6.6%), household services (5.4%), pharmaceuticals (5.2%), restaurants (5%), durable goods (4.4%), medical products (3.8%), clothing-footwear (2.7%) and education (1.4%).

On a monthly basis, prices rose 42.8% in natural gas, 2.3% in solid fuel, 11% in electricity and 7.9% in fuel-lubricants.

The consumer price index increase in August reflected increases in food/beverages (13.2%), alcohol/tobacco (1.8%), clothing/footwear (2.7%), housing (31.4%), durable goods (9.5%), health (2.7%), transport (16%), entertainment (2.3%), education (0.9%), hospitality (6.7%), while the communication index fell 2.2%.

Greece’s harmonised inflation rate rose 11.2% in August, from 1.2% in August last year.

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