Greece has recorded its highest price increases in 28 years
Greece is the latest EU country to be hit with double-digit inflation, reaching the highest level since 1994.
Inflation in the country surged to 10.2% year-on-year in April from 8.9% the previous month, according to the Hellenic Statistical Authority (ELSTAT).
The largest increases were registered in the cost of natural gas (122.6%), electricity (88.8%), diesel fuel for heating (65.1%), fuel lubricants (29%), and solid fuels (5.3%).
‘Food basket’ products have also risen in price. In particular, prices for oils and fats surged 22%, meat products – 14.1%, and vegetables – 13.8%. Dairy products and eggs jumped in price by 11.7%, while the costs of bread and cereals grew 10%. Prices for fresh fruit, and even coffee, cocoa, and tea increased 7.1%.
Apart from this, transportation, accommodation, restaurants, automobiles, restaurants, and even cinema tickets also showed price increases of various degrees.
READ MORE: EU nation sees highest inflation in decades
With inflation surpassing 10%, Greece became the ninth country in the Eurozone in which official inflation has reached double digits, following Bulgaria (10.5%), Slovakia (10.9%), the Netherlands (11.2%), Czech Republic (11.9%), Poland (12.3%), Latvia (13.2%), Lithuania (16.6%), and Estonia (19%).
For more stories on economy & finance visit RT’s business section
https://ift.tt/YbipDxh 11, 2022 at 02:46PM
from RT – Daily news