Eurostat: 3.2% Annual Inflation in Greece in April

Annual inflation in Greece stood at 3.2% in April, according to a Eurostat report, marking the seventh consecutive month it has remained above the eurozone average, which stood at 2.4%. Monthly, Greek inflation increased by 0.9 percentage points.

The data also shows that Greece ranks seventh in overall inflation within the eurozone and second in food inflation, consistently trailing Malta for the past six months—Greece had been first in October.

Specifically, food inflation in Greece amounted to 5.3% in April (down from 5.4% in March), behind Malta’s 5.9% (down from 6.2% in March) and worse than Spain’s 4.8% (up from 4.4% in March). The nagging inflation indicates that the anti-inflation measures initiated by the Greek government from March 1st failed to contain the rising costs.

The lowest annual rates were registered in Lithuania (0.4%), Denmark (0.5%) and Finland (0.6%). The highest annual rates were recorded in Romania (6.2%), Belgium (4.9%) and Croatia (4.7%).

According to data from ELSTAT for April, the largest annual increases in food prices were observed in olive oil (63.7%), fruits (11.6%), fish (10.6%), and rice (8.5%), while prices for bottled water, soft drinks, and fruit juices rose by 12.5%.

Elsewhere in the EU, the annual inflation rate remained steady at 2.6% in April, the same as in March. A year ago, the rate stood at 8.1%.

Annual inflation is the change in the price level of consumer goods and services between the current month and the same month of the previous year. Monthly inflation is the change in the price level between the current month and the previous month.

Source: tovima.com