Greek inflation rate rose to 3.5% in December

greek inflation greece greek economy

The Greek inflation rate rose significantly to 3.5% in December from 3.0% in November, but down from 7.2% in December 2022, Hellenic Statistical Authority said on Friday. The statistics service attributed this development to price increases in the vast majority of products and services, despite a sharp fall in natural gas prices. The inflation rate was up 3.5% on average in 2023.

More specifically, price increases were recorded in bread-cereals (2.6%), meat (6.5%), fish (8.4%), dairy-eggs (3.8%), olive oil (58.5%), fruit (15%), vegetables (14%), sugar-chocolate-ice cream (7.7%), coffee-cocoa-tea (3.7%), mineral water-beverage-juices (12.6%), alcohol (5.2%), clothing-footwear (2.8%), house rents (4.0%), heating oil (13.7%), solid fuel (9.2%), furniture (2.4%), household services (1.9%), pharmaceuticals (11.8%), used cars (4.5%), air travel (10.2%), cinemas-theater (10%), holiday packages (9.3%), restaurants (5.9%), hotels (5.7%). On the other hand, prices fell in natural gas (52.9%), fuel-lubricants (3.3%), telephone services (3.5%) and audio-visual (5.1%).

The 3.5% increase in the consumer price index in December reflected index increases in food/beverages (8.9%), alcohol/tobacco (2.2%), clothing/footwear (2.8%), durable goods (1.9%), healthcare (5.5%), transport (0.3%), entertainment (2.6%), education (3.6%), hospitality (5.9%) and other goods and services (1.7%). Index declines were recorded in housing (0.5%) and communications (3.2%).

The consumer price index eased 0.1% in December from November 2023, after falling 0.5% in the same period in 2022. Greece's harmonised inflation rate rose 3.7% in December 2023 from December 2022. On a monthly basis, harmonised inflation rose 0.1%, while on average it rose 4.2% in 2023.

READ MORE: Greek exports down 12.2% in November.

Advertisment

Copyright Greekcitytimes 2024