Households struggling as inflation hits 28-year high 

Households struggling as inflation hits 28-year high 

Any budgeting efforts by households over the last year have been rendered useless, with official data on Tuesday showing Greece’s annual consumer inflation soared in April to 10.2%, the highest in 28 years, as a result of surging costs for energy, housing, transportation and food.

According to the Hellenic Statistical Authority (ELSTAT), price growth in March was at 8.9% while disposable incomes have been hammered by Greece’s annual EU-harmonized inflation, which rose sharply to 9.1% in April from 8.0% in March.

ELSTAT said natural gas prices jumped 122.6% on an annual basis, with electricity prices increasing 88.8%.

The cost of housing rose 35.2% year-on-year, while transportation prices were up 15.4%.

Foods and non-alcoholic beverages were 10.9% more expensive, ELSTAT added.

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