ECONOMY

Fuel cost hike leads to inflation spike in June

fuel-cost-hike-leads-to-inflation-spike-in-june

Inflationary pressures have arrived in Greece too, as the consumer price index ended its period of contraction to post a 1% annual increase in June, according to figures the Hellenic Statistical Authority (ELSTAT) released on Friday. In May the index’s change had been next to zero.

Last month’s increase is mainly attributed to the rise in the cost of fuel, which in Greece always arrives a little later, while there have also been some notable price hikes in food products.

Although most sides say this index rise is temporary for this summer, as of the fall commerce and manufacturing expect to see more inflationary pressures.