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GreeceBusinessGreek inflation slowed to 6.1% in February

Greek inflation slowed to 6.1% in February

Hellenic News of America
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The Greek annual inflation rate slowed further to 6.1% in February from 7% in January and 7.2% in February 2022, Hellenic Statistical Authority said on Monday. However, this development is attributed solely to a drop in electricity prices while the consumer price index in foods and food items jumped 14.8% in the month.

More specifically, electricity prices fell 22.4% in February, compared with the same month last year, and heating oil prices eased 5.1%. On the other hand, prices rose 37.1% in natural gas, 25.3% in solid fuel and 2% in fuel-lubricants. Price increases were recorded in bread-cereals (16.8%), meat (20%), fish (2.6%), milk-eggs (25.2%), olis (22.9%), vegetables (8.6%), sugar-chocolate-ice cream (9.2%), other foods (13.1%), coffee-cocoa-tea (13%), mineral water-beverages-juice (9%) and alcohol (7.2%). Price increase were also recorded in clothing-footwear (7.1%), house rent (4%), household services (7.5%), pharmaceuticals (8.4%), motorcycles (8.4%), car accessories/parts (10.7%), taxi transport (32.9%), air transport (47.6%), ship transport (26.7%), cinemas-theatre (18.8%), hotels (5.9%), holiday packages (13.9%), education (2.6%) and restaurants (8.1%). Only telephone services recorded a decline (-1.5%).

On a monthly comparison (February to January 2023), natural gas prices fell 21.6%, heating oil fell 3.9% and diesel oil eased 3.2%. On the other hand, fuel prices rose 1.4% and electricity was up 0.3%.

The 6.1% increase in the consumer price index in February attributed to index increases of 14.8% in food/beverages, 2.9% in alcohol/tobacco, 7.1% in clothing/footwear, 10.5% in durable goods, 5.3% in health, 6.5% in transport, 3.5% in entertainment, 2.2% in education, 8.1% in hospitality, 5.8% in other goods and services. Index decreases were recorded in housing (4.9%) and communucations (1.6%).

The consumer price index rose 0.3% in February from January 2023, after an 1.1% increase recorded in the same period last year.

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Harmonised inflation rose 6.5% in February, compared with the same month in 2022, after a 6.3% increase recorded in the same months in 2022/2021. The harmonised inflation rate rose 0.2% in February from January 2023.

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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