Greek annual inflation rate slowed to 3.0% in April

Greek annual inflation rate slowed spectacularly to 3.0% in April, from 4.6% in March and 10.2% in April last year, the Hellenic Statistical Authority said on Wednesday. This change reflects almost exclusively a rapid fall in energy prices, while prices in food and food items grew 11.4% in the month

More specifically, price increases were recorded in bread/cereals (13.8%0, meat (12%), fish (4.5%), dairy/eggs (19.1%), oils (16.2%), vegetables (6.2%), sugar/chocolate/sweets (11%), other food (14.6%), coffee/tea (12.1%), mineral water/juices (8.5%) and alcohol (10.1%). Price increases were also recorded in clothing/footwear (5.6%), rents (3.8%), house repair (5.3%), LPG (11%), solid fuel (29.6%), furniture (7.7%), home equipment (7.4%), pharmaceuticals (13.9%), medical products (2.2%), new cars (7.6%), used cars (10.5%), motorcycles (7.3%), car parts (12.2%), taxi (32.9%), air travel (34.1%), ship travel (11.2%), cinemas/theater (5.6%), hotels (22.2%), etc. On the other hand, prices fell in electricity (29.9%), natural gas (25.1%), heating oil (20.7%), fuel/lubricants (7.4%) and telephone services (1.8%).

The statistics service attributed the decline in the consumer price index in April to increases of: 11.4% in food/beverage, 4% in alcohol, 5.6% in clothing/footwear, 10.9% in durable goods, 6.5% in health, 1.4% in transport, 3.7% in entertainment, 2.2% in education, 8.5% in hospitality and 6.4% in other goods and services. The CPI fell 13.4% in housing and 1.8% in communications.

The consumer price index rose 0.6% in April from March 2023, after a 2.1% increase recorded in the same period last year. The country’s harmonized inflation rate slowed to 4.5% in April this year from April 2021, after a 9.1% increase recorded in the same months in 2022/2021. The harmonized inflation rate rose 1.1% in April from March 2023. [AMNA]