Inflation up 3% in August, ELSTAT says: Price increases in energy, foods and services

ΣΧΕΤΙΚΑ ΑΡΘΡΑ

Athens International Airport passenger traffic up 10.5% in August

PM visits Ilios factory, notes that successive increases in minimum wage outstrip inflation

Prices for popular Clean Monday and Lenten foods are largely level or lower than last year

Greece’s inflation rose 3% in August compared to 2.7% in July and 2.7% in August 2023, according to the Hellenic Statistical Authority ELSTAT.

The rise was attributed to the price increases in energy (natural gas +28%, electricity +9.7%), in many foods (with olive oil again leading with a price increase of 49.1%), but also in a multitude of products and services.
More specifically:

The 0.3% increase of inflation in August 2024, compared with the corresponding index in July 2024 is, mainly, due to the
changes in the groups of goods and services as follows:

 1. An increase of:
– 0.2% in the group Food and non-alcoholic beverages, due to the increase, mainly, in the prices of: fresh fish, cheese, fresh fruit,
fresh vegetables. This increase was partly offset by the decrease, mainly, in the prices of: bread and cereals, poultry, yoghurt,
olive oil.
– 2.8% in the group Housing, due to the increase, mainly, in the prices of: rentals for dwellings, repair and maintenance of the
dwelling, electricity.
– 1.4% in the group Health, due to the increase, mainly, in the prices of pharmaceutical products.
– 0.3% in the group Communication, due to the increase, mainly, in the prices of telephone services.
– 0.1% in the group Hotel-Cafés-Restaurants, due to the increase, mainly, in the prices of: restaurants-confectioneries-cafesbuffets. This increase was partly offset by the decrease, mainly, in the prices of hotels-motels-inns.
– 1.1% in the group Miscellaneous goods and services, due to the increase, mainly, in the prices of other appliances and articles
for personal care.

2. A decrease of:
– 0.3% in the group Alcoholic beverages and tobacco, due to the decrease, mainly, in the prices of alcoholic beverages (not
served).
– 4.6% in the group Clothing and footwear, due to the period of summer sales.
– 0.3% in the group Household equipment, due to the decrease, mainly, in the prices of non-durable household articles.
– 0.8% in the group Transport, due to the decrease, mainly, in the prices of fuels and lubricants.
The 3.0% increase of inflation in August 2024, compared with the corresponding index in August 2023 is, mainly, due to the
changes in the groups of goods and services as follows:

1. An increase of:
– 2.8% in the group Food and non-alcoholic beverages, due to the increase, mainly, in the prices of: bread, breakfast cereals,
meat, fresh fish, olive oil, dried fruit and nuts, fresh vegetables, preserved or processed vegetables, sugar-chocolates-sweetsice creams, mineral water-refreshments-fruit juices. This increase was partly offset by the decrease, mainly, in the prices of:
pizza and quiche, milk-cheese and eggs, fresh fruit, frozen vegetables, potatoes, food n.e.c.
– 0.7% in the group Alcoholic beverages and tobacco, due to the increase, mainly, in the prices of alcoholic beverages (not
served).
– 6.2% in the group Clothing and footwear, due to the increase in the prices of clothing and footwear.
– 5.5% in the group Housing, due to the increase, mainly, in the prices of: rentals for dwellings, services for the repair and
maintenance of the dwelling, electricity, natural gas, heating oil. This increase was partly offset by the decrease, mainly, in the
prices of: municipal charges for refuse collection.
– 3.1% in the group Health, due to the increase, mainly, in the prices of: pharmaceutical products, medical-dental and
paramedical services, hospital care. This increase was partly offset by the decrease, mainly, in the prices of medical products.
– 1.5% in the group Transport, due to the increase, mainly, in the prices of: new motorcars, spare parts and accessories for
motorcars, maintenance and repair of motorcars-motorcycles, other services for motorcars – motorcycles, tickets for passenger
transport by air. This increase was partly offset by the decrease, mainly, in the prices of: second hand motor cars, fuels and
lubricants.
– 0.4% in the group Communication, due to the increase, mainly, in the prices of telephone services.
– 1.4% in the group Recreation and culture, due to the increase, mainly, in the prices of: small recreational items-flowers-pets,
recreational services, newspapers-books and stationary, package holidays. This increase was partly offset by the decrease,
mainly, in the prices of equipment for the reception, equipment for the reception recording and reproduction of sound and
picture.
– 3.5% in the group Education, due to the increase, mainly, in the prices of: fees of pre-primary and primary education, fees of
secondary education, fees of tertiary education.
– 6.6% in the group Hotel-Cafés-Restaurants, due to the increase, mainly, in the prices of: restaurants-confectioneries-cafesbuffets, hotels-motels-inns.
– 1.9% in the group Miscellaneous goods and services, due to the increase, mainly, in the prices of: hairdressing salons and
personal grooming establishments, other personal effects, private insurance connected with health, motor vehicle insurance.
This increase was partly offset by the decrease, mainly, in the prices of other appliances and articles for personal care.

2. A decrease of:
– 0.9% in the group Household equipment, due to the decrease, mainly, in the prices of non-durable household articles. This
decrease was partly offset by the increase, mainly, in the prices of: furniture and furnishing, domestic services

Source: ΑΝΑ – MPA

Details on PM Mitsotakis TIF measures – Meeting with the political leadership of the Health Ministry