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Financial News: Greece Consumer Price Inflation Strongest Since 1993

Greece Consumer Price Inflation Strongest Since 1993

07/08/2022 - 08:37:00 (RTTNews)

(RTTNews) - Greece consumer price inflation reached its highest level in nearly three decades in June, data from the Hellenic Statistical Authority showed on Friday.

Consumer prices logged a double-digit growth of 12.1 percent year-on-year in June, following an 11.3 percent rise in May. This was the fastest increase since November 1993, when prices had climbed 12.3 percent.

The annual increase was driven by higher costs of housing, transport and food prices. Cost of housing surged 31.5 percent and transport cost grew 25.0 percent. Prices of food and non-alcoholic beverages gained 12.6 percent.

On a monthly basis, consumer prices grew 1.6 percent, faster than the 0.7 percent rise in May.

Data showed that EU harmonized inflation accelerated to 11.6 percent in June from 10.5 percent in the previous month.

Month-on-month, the harmonized index of consumer prices moved up 2.2 percent versus May's 0.9 percent increase.

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