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GreeceBusinessGreek inflation slowed to 2.8% in May

Greek inflation slowed to 2.8% in May

Hellenic News of America
Hellenic News of Americahttps://www.hellenicnews.com
The copyrights for these articles are owned by HNA. They may not be redistributed without the permission of the owner. The opinions expressed by our authors do not necessarily reflect the opinions of HNA and its representatives.

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The Greek inflation rate slowed further to 2.8% in May from 3.0% in April and 11.3% in May 2022, reflecing exclusively a sharp fall in energy prices, while food prices rose by 11.6% in the month, Hellenic Statistical Authority said on Friday.

More specifically, price increases were recorded in bread/cereals (11.1%), meat (11.9%), fish (5.2%), dairy/eggs (18%), oil/fat (15.8%), fruit (2.6%), vegetables (9.7%), sugar/chocolate/ice cream (10.3%), coffee/cocoa/tea (13.2%), mineral water/juices (12.9%) and alcoholic drinks (8.3%). Clothing/footwear also rose (11.8%), along with house rents (4.1%), solid fuel (28.9%), furniture (6.5%), home appliances (6.1%), home services (7.6%), pharmaceuticals (18.6%), medical services (4.9%), new cars (7.5%), used cars (10.5%), motorcycles (7.5%), air travel (27.4%), ship travel (11.2%), holiday packages (7.1%), restaurants (7.4%), hospitality (14.4%), etc. On the other hand, prices fell in natural gas (49.6%), electricity (24.1%), heating oil (20.7%), fuel (16.8%) and telephone services (2.2%).

The statistics service attributed the 2.8% increase in the consumer price index in May to index increases in food/beverages (11.6%), alcohol/tobacco (3.5%), clothing/footwear (11.8%), durable goods (9.9%), health (7.8%), entertainment (3.3%), education (2.2%), hospitality (7.4%) and other goods and services (6.8%). Index declines were recorded in housing 12.9%, transport 3.1% and communications 2.3%.

The consumer price index rose 0.4% in May from April 2023, after a 0.7% increase recorded in the same period last year. The country’s harmonised inflation rate was 4.1% in May this year compared with the same month in 2022, after a 10.5% increase recorded in the same months in 2022/2021. On a monthly basis, the harmonised inflation rate rose 0.5% in April from March.

SOURCE; ANA-MPA

The copyrights for these articles are owned by the Hellenic News of America. They may not be redistributed without the permission of the owner. The opinions expressed by our authors do not necessarily reflect the opinions of the Hellenic News of America and its representatives.

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