Greek inflation jumps to 10.2% y/y in April, hits 27-year high

Greek inflation jumps to 10.2% y/y in April, hits 27-year high

Greece’s annual consumer inflation jumped to its highest level in 27 years in April at 10.2% on the back of surging costs for energy, housing, transportation and foods, official data showed on Tuesday.

The last time Greece had registered double-digit inflation was in February 1995.

Price growth was 8.9% in March, according to statistics service ELSTAT.

Greece’s annual EU-harmonized inflation also rose sharply to 9.1% in April from 8.0% in March, further squeezing disposable incomes.

EU-harmonized inflation is an index of components used across the EU to measure inflation in a consistent way.
Natural gas prices soared 122.6% on an annual basis, while electricity prices increased 88.8%, ELSTAT said.

The cost of housing rose 35.2% year-on-year, transportation prices were up 15.4% with foods and non-alcoholic beverages 10.9% more expensive, the data showed. [Kathimerini/Reuters]

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