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Inflation in Greece soars to 5.1% in December 2021

Greece’s consumer price index surged to 5.1% in December 2021, compared to the corresponding month of 2020, the Greek Statistics Authority (ELSTAT) said on Thursday.

According to ELSTAT inflation was:

4.8% in November 2021 and decreased by 2.3% in December 2020.

As a result, at average levels last year, inflation increased by 1.2%, from a decrease of 1.2% in 2020.

Main reason for the inflation increase is the hike in energy prices. The cost of natural gas soared by 135.7%, the cost of electricity by 45%, while the price for heating oil went up 34.1% within one year, that is December 2021-December 2020.

At the same time, there were price increases in all species (except pork and cold cuts) that make up the so-called “housewife basket” and in particular the following were recorded: Lamb-goat (19.7%), Other edible oils (17.1%) , Olive Oil (17%), Potatoes (14.2%), Pasta (7.6%), Fresh Fish (6.7%), Poultry (6.6%), Cheese (5.5%), Fresh Fruit (5.5%), Fresh vegetables (5.5%), Bread (4.9%), Beef (4.2%) and Coffee (3.4%).

However, between December and November last year there was a slight de-escalation in the prices of gas (-16.2%), heating oil (-3%) and gasoline (-1.5%). On the contrary, price increases continued in Electricity (5.2%), Used cars (11.5%), New cars (1.3%), Bread (0.7%), Pasta (6.6%), Beef (2.3%), Fresh Fish (1.7%) and Cheese (1.6%).

According to ELSTAT, the 5.1% increase in the general consumer price index last December was mainly due to changes in the following groups of goods and services: More details here in ELSTAT.

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