Greece’s European Union harmonized consumer price index rose to 12.1% in September from 11.2% in August, reaching its highest point since the country entered the eurozone, according to Eurostat estimates released on Friday. .
Eurozone inflation also reached double digits for the first time at an all-time high of 10%, defying expectations of staying below 10% at 9.7%. Energy and food are at the center of the problem, but the rise is now spreading across all commodity categories.
While trends are far from positive, particularly for natural gas, the rise in industry producer prices recorded by Greece’s ELSTAT (39.5% in August 2022 compared to August 2021) is likely to encourage even more consumption. indicates an increase in market prices. ELSTAT data for September’s national consumer price index are due to be released on October 10th.
Greece, with a unified consumer price index of 12.1%, had the 6th highest inflation rate in the Eurozone last month and had the largest monthly index change (i.e. 3%) among 19 member states . The highest September inflation was again recorded in Estonia (24.2%) and the lowest in France (6.2%).
Eurostat data showed Greece’s September energy inflation rate at 53.3% (up from 50.4% in August), the third highest after the Netherlands (113.8%) and Belgium (67.2%). Eurozone energy inflation rose from 38.6% in August to 40.8% in September.
Falling prices are nowhere to be seen on the horizon given the energy crisis is expected to worsen. New price lists are already appearing in supermarkets, along with price increases for a range of products, such as household goods and personal hygiene products, that did not see much price increases in the previous period.
Producer prices in industry and other important sectors register very significant increases each year. Producer price increases were 78.5% in fuel production, 69.5% in power supply, 14.2% in paper industry and 9.7% in food industry.
https://www.ekathimerini.com/economy/1194614/september-inflation-at-12-1/ September inflation of 12.1% | eKathimerini.com