ELSTAT: Inflation at 3.1% in April

Inflation fell to 3.1% in April 2024 from 3.2% in March on an annual basis, according to Greece’s statistical authority, ELSTAT.

Rises in the cost of food and non-alcoholic beverages fueled the uptick in the Consumer Price Index (CPI), with the price index of the two categories rising to 5.4% annually from 5.3% in March while it remained unchanged on a monthly basis (March to April).

Olive oil (63.7%), fruit (11.6%), fish (10.6%), and mineral water (12.5%) registered the highest increases annually.

Conversely, the data showed a downtick in the costs of natural gas (-26.9 %), pasta (-3.5%), dairy products-eggs (-1.2%), and miscellaneous edible oil products (-16.6%).

This increase compared to the corresponding Index of April 2023 mainly stemmed from changes in the following groups of goods and services:

5.4% in the Food and Non-Alcoholic Beverages group, primarily due to increases in prices of rice, meats (in general), fresh fish, olive oil, fruits (in general), vegetables (in general), sugar-chocolates-sweets-ice cream, other foods, mineral water-refreshments-fruit juices. Part of this increase was offset by decreases mainly in the prices of bread, pasta, dairy and eggs, and other edible oils.

2.6% in the Alcoholic Beverages and Tobacco group, mainly due to increases in prices of alcoholic beverages (non-served).