Greek inflation more than doubled in October from the 1.6% in September!

Annual inflation in Greece reached 3.4% in October, from 1.6% in September, according to data from the Hellenic Statistical Authority (ELSTAT).

The increase of the General CPI by 3.4% in October 2023, compared to the corresponding Index of October 2022, came mainly from the changes in the following groups of goods and services:

1. Of the index increases by:

• 9.9% in the Food and non-alcoholic beverages group, due mainly to price increases in bread and cereals,
meat (general), fish (available), dairy and eggs, oils and fats, fruit (public), vegetables (general), sugar, chocolate-sweets-ice cream, other foods, coffee-cocoa-tea, mineral water-soft drinks-fruit juices.
• 2.6% in the group Alcoholic beverages and tobacco, due mainly to an increase in prices of alcoholic drinks (not served).
• 3.3% in the Clothing and footwear group due to price increases in clothing and footwear.
• 2.8% in the group Durable goods-Household goods and services, due to price increases mainly in household appliances and repairs, glassware-tableware and utensils, household goods for immediate consumption, and household services.
• 5.6% in the Health group, mainly due to price increases in pharmaceutical products, medical products, medical, dental and paramedical services, and hospital care.
• 3.1% in the Leisure-Cultural activities group, due mainly to price increases in leisure and cultural durables, small leisure items-flowers-pets, cinemas-theatres, and package holidays. Part of this increase was offset by the price decrease significantly in audio-visual equipment-computers-repairs.
• 3.5% in the Education group, due mainly to price increases in preschool and primary education fees, secondary education fees, and tertiary education fees

• 4.8% in the Hotels-Cafes-Restaurants group, due to mainly price increases in restaurants- pastry shops, cafes-canteens.
• 2.7% in the Other Goods and Services group, due mainly to price increases in hair salons and personal care stores, other personal care items, health insurance premiums, and vehicle insurance premiums.

2. From the decrease in the index by:

• 2.0% in the Housing group, mainly due to decreased natural gas prices. Part of this decrease was offset by the price increase, mainly in house rents, house repair and maintenance, electricity, heating oil, and solid fuels.
• 0.4% in the Transportation group, mainly due to decreased fuel and lubricant prices. Part of this decrease was offset by price increases, especially in new cars, used cars, car parts and accessories, maintenance and repair of personal transport equipment, and air passenger tickets.
• 3.2% in the Communications group, mainly due to decreased telephone service prices.

READ MORE: E-Governance Minister: Greek state services to be fully digitized by 2027.