Top Stories
Greek inflation jumps to 12.1% y/y in June
Global Banking & Finance Review®
Company
ATHENS (Reuters) -Greece’s annual consumer inflation jumped to 12.1% in June, its highest level in nearly three decades, boosted by surging costs of energy, transport and foods, data from statistics service ELSTAT showed on Friday.
ATHENS (Reuters) -Greece’s annual consumer inflation jumped to 12.1% in June, its highest level in nearly three decades, boosted by surging costs of energy, transport and foods, data from statistics service ELSTAT showed on Friday.
Inflation accelerated from 11.3% in May, according to ELSTAT. Month-on-month consumer inflation rose 1.6%.
Greece’s annual EU-harmonised inflation also rose further to 11.6% in June year-on-year from 10.5% in May, ELSTAT said.
EU-harmonised inflation is an index of components that is used across the EU to measure inflation in a consistent way.
Natural gas prices soared 117.7% on an annual basis, while electricity prices increased 70.4%, ELSTAT said.
The cost of fuel and lubricants rose 45.6% on the year, while prices of bread and cereals were up 15.9%, the data showed.
(Reporting by Renee Maltezou; Editing by Clarence Fernandez)
Inflation is the rate at which the general level of prices for goods and services rises, eroding purchasing power. It is typically measured as an annual percentage change.
Consumer inflation refers to the increase in prices that consumers pay for a basket of goods and services over time, reflecting the cost of living.
EU-harmonised inflation is a standardized measure of inflation across European Union member states, allowing for consistent comparisons of price changes.
Explore more articles in the Top Stories category
