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Economy

Greek Inflation Rate Slowed to 11.6% in July

ATHENS – Greek inflation rate slowed to 11.6% in July from 12.1% in June and after an 1.4% reading in July 2021, Hellenic Statistical Authority said on Monday. More specifically, the statistics service said that significant price increases contined in natural gas (178.9%), heating oil (65.1%), electricity (55.8%), fuel-lubricants (33%), solid fuel (9%) and in the so-called “housewife’s basket”: oil/fat (27.3%), bread/cereals (16.7%), meat (16.7%), dairy/egg (16.4%), vegetables (13.4%), coffee-cocoa-tea (11.4%), other food (9.3%), sugar-chocolate-sweet-ice cream (5%), fish (3.6%), mineral water-beverage (3.5%) and alcohol (3.3%).

Price increases were also recorded in air travel (62.3%), taxi (32.9%), sea traval (25.4%), hotels (20%), used cars (15.9%), new cars (12.4%), cinemas-theater (13.9%), holiday package (11.4%), furniture (7.2%), car parts (5.3%), home equipment (5.3%), restaurants (4.6%), medical products (3.7%), clothing-footwear (3.4%), education (1.4%), house rent (0.9%) and textiles (0.1%).

The 11.6% increase in the annual consumer price index in July, reflecting index increases in food/beverage (13%), alcohol/tobacco (1.5%), clothing-footwear (3.4%), housing (30.9%), durable goods (8.2%), health (0.7%), transport (20.6%), entertainment (2.0%), education (0.9%), hospitality (6.4%) and other goods and services (2.5%). Only the telecommunications group recorded a decline (-2.1%).

Greece’s harmonized inflation rate rose 11.3% in July from 11.6% in June. On a monthly basis, the harmonized inflation rate fell 1.6% in July from June 2022.

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