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11 May, 2022 09:16

9th EU country sees inflation jump to double digits

Greece has recorded its highest price increases in 28 years
9th EU country sees inflation jump to double digits

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.

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%).

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