According to ELSTAT, inflation reached 12% in September compared to 11.4% in August. Recall that according to the first estimate of Eurostat, the harmonized consumer price index for September amounted to 12.1% compared to 11.2% in August.

Over the past year, prices for natural gas increased by 332%, for fuel oil by 65.1%, for electricity by 30.5%. Dairy products and eggs went up by 23.3%, bread and cereals by 18.4%, meat by 17.6%, oils and fats by 17% and coffee, cocoa and tea by 14.3%.

Inflation showed an increase of 2.9% compared to August 2022 compared to a 2.4% increase recorded in the corresponding comparison of the previous year.

The average consumer price index for the twelve months from October 2021 to September 2022 compared to the corresponding Index for the twelve months from October 2020 to September 2021 showed an increase of 8.7% against a decrease of 0.4%, noted in the corresponding comparison of the twelve months from October 2020 to September 2021 with the twelve months from October 2019 to September 2020.

Monthly Changes

The increase in total CPI by 2.9% in September 2022 compared to the corresponding index in August 2022 was mainly due to changes in the following groups of goods and services:

1. From an increase in indicators by:

• 1.4% in the “Food and non-alcoholic beverages” group, due to price increases mainly for: bread, other bakery and confectionery products, lamb and goat meat, fresh fish, dairy products and eggs, olive oil, vegetables (in in general). Part of this increase was offset by lower prices, mainly for fresh fruit.
• 0.4% in the “Alcoholic drinks and tobacco products” group, mainly due to the increase in prices for alcoholic beverages (not served).
• 41.4% in the clothing and footwear group due to the return of prices to pre-summer sale levels.
• 3.4% in the “Housing” group due to price increases mainly for: rent for housing, various services related to the home, natural gas, solid fuels. Part of this increase was offset by lower electricity prices.
• 1.9% in Durable Goods – Household Goods and Services, mainly due to rising prices for: home textiles, household appliances and repairs, consumer goods.
• 0.3% in the Health group, mainly due to higher prices for pharmaceutical products.
• 1.8% in the Education group, mainly due to higher prices for: primary education fees, secondary education fees.
• 2.7% in the Hotels-Cafes-Restaurants group, mainly due to price increases in restaurants-pastry-cafés, hotels-motels-hotels.
• 0.4% in the group “Other goods and services”, mainly due to higher prices for other personal care products.

2. From decreasing the index by:

• 1.4% in the “Transport” group, mainly due to lower prices for: motor fuel (gasoline), air passenger tickets. Part of this decline was offset by higher prices, mainly for diesel fuel and new cars.

Source: moneyreview.gr