Industrial import prices jump

The index of industrial import prices jumped 21.2% in July year-on-year, a hike seen clearly in Greece this summer in the prices of fuel and other commodities.

The index even showed a 2.2% monthly increase from June 2021, according to the figures that the Hellenic Statistical Authority (ELSTAT) released on Tuesday.

Import prices in the energy sector recorded massive growth of 61.5% in July, serving to explain the significant hikes already observed at fuel stations, in power bills and most other goods that require shipment.

The increases in the country’s other industrial sectors were significant smaller, but far from negligible, leading to notable hikes in the prices of industrial products: ELSTAT figures showed a 6% annual rise in the computer and electronics sector, a 3.2% increase in the import prices of electrical equipment, 2.6% growth in vehicle prices, a 1.4% expansion in machinery and other equipment, while food industry imports posted a 1.3% annual increase.

Imports of pharmaceutical commodities, however, bucked the trend, registering an annual decline of 5.4% in July, according to ELSTAT.