Inflation rate eases to 4.6% in March; foods, beverages up by 14.3%

The rate at which inflation increased in Greece, on an annual basis, eased to 4.6 percent in March 2023, slowing from 6.1 percent in February 2023, primarily on the back of de-escalating lower energy prices.

The figure for the corresponding month of 2022 was 8.9 percent (March 2022), according to figures released on Monday by the Hellenic Statistical Authority (EL.STAT).

The 4.6-percent-hike of Overall CPI in March 2023, compared with the corresponding index last month, is due to hikes in various groups of goods and services, with the most ominous increases being in the foods and non-alcoholic beverages sector, which were up by 14.3 percent on an annual basis.

Bread and cereals, meat, fish, dairy products and eggs, oils and fats, fruits, vegetables, sugar-chocolates-sweets-ice creams, coffee-cocoa-tea, mineral water-refreshments-fruit juices rose above the monthly inflation average, further eating away at households’ disposable incomes.