Inflation in March hits 4 pct
Annual inflation in March jumped to 4 percent, from 3.4 percent in February, with much of the rise attributed to profiteering during the changeover to the euro. Inflationary pressures also increased as a result of higher international oil prices. In March, harmonized inflation came to 4.4 percent, from 3.8 percent in February. The figures, released yesterday by the National Statistical Service, indicate price increases in a broad range of services, with half the rise from the previous month reflecting price increases following the adoption of the single European currency. The government had played down the danger posed by the irrevocable nature of the currency switch, but the Bank of Greece had noted the risk in its latest report on monetary policy. It had said that success in keeping annual inflation to 3 percent would depend on pressure being kept up during the switch from the drachma to the euro. In January, a Metron Analysis poll found 37.2 percent ready to vote for ND and 30.9 percent for PASOK, while in December an MRB poll gave ND 34.8 percent to PASOK’s 28.2 percent.
