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Financial News: Greece Producer Price Inflation At 1-Year Low, Retail

Greece Producer Price Inflation At 1-Year Low, Retail Sales Growth Eases

12/30/2022 - 08:34:00 (RTTNews)

(RTTNews) - Greece's producer price inflation eased in November to the lowest level in one year amid a slowdown in the price growth of energy, while retail sales growth slowed in October, separate reports from the Hellenic Statistical Authority showed on Friday.

The producer prices climbed 26.2 percent year-on-year in November, following a 35.4 percent growth in October.

Further, this was the slowest inflation since November last year, when prices had risen 24.5 percent.

On an annual basis, producer prices in the domestic market grew by 25.8 percent and those of the non-domestic market rose 27.6 percent in November.

Among the main industrial groupings, prices for energy surged 47.0 percent yearly in November versus a 57.6 percent jump a month ago.

Prices of intermediate goods moved up 16.9 percent, and those for non-durable consumer goods gained 11.1 percent.

On a monthly basis, producer prices fell 5.8 percent in November, in contrast to an 8.1 percent rise in the prior month.

Separate data from the statistical office showed that retail sales turnover grew 8.0 percent yearly in October, after a 10.2 percent rise in the prior month. This was the slowest rate of growth in five months.

On a month-on-month basis, retail sales rose 0.4 percent in October.

Data also showed that the volume of retail sales fell 2.2 percent in October compared to last year after rising 1.2 percent in September.

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