Mitsotakis: The problem of energy inflation requires a European solution
Government sources confirm that during his speeches the Prime Minister will reiterate his proposal for measures to streamline the market
Government sources confirm that during his speeches the Prime Minister will reiterate his proposal for measures to streamline the market
Greece in the top five countries with the highest energy inflation
Although the annual inflation rate in Greece continued ease last month, May 2023, certain cost-of-living indexes remained high
The two negative factors are compounded by slowing trends in plaguing the global economy
The publication reminds that the inflation rate in the east Mediterranean country reached 11.4 percent in August 2022, easing from 12.1 percent in June 2022 – the record for the year so far
Summer sales seem to have contributed to the small decline in the general consumer price index
Economic and fiscal policy issues dominated, among others, the meeting with the Co-Chair of the Environmental Greens
Fixed wages, rising prices and the need to raise minimum wages
Minister of Finance Christos Staikouras estimated that we may see negative effects
The pandemic and the effects under scrutiny - Within the week the new package against the increases in electricity prices - What the information says, who will be affected and how much will be "cut" from the increased costs SHARE
Nevertheless, one factor that may “brake” rising inflation in the Greek economy, at least in the short term, is a positive convergence between the current and real unemployment rate
These trends are largely attributed to a significant drop in energy prices, despite some fluctuations, along with a softening in food prices.
At the same time, the consumer price index in the Eurozone increased by 1.8% during the same month (down from 2.2% in Aug.), falling below the European Central Bank's (ECB) target of 2%.
The annual inflation rate for the European Union was 2.4% in August 2024, down from 2.8% in July, while a year earlier, it stood at 5.9%.
"Something is not working properly. I don’t expect immediate solutions, but at least someone should address this."
Core inflation, which excludes the calculation of volatile fuel and unprocessed food prices, also slightly declined to 2.8% annually from 2.9% a month earlier
A year earlier, the rate was 6.1%. European Union's annual inflation was 2.7% in May 2024, up from 2.6% in April. A year earlier, the rate was 7.1%
Eurozone Inflation Climbs to 2.6%
In the eurozone, the consumer price index (CPI) dropped to 2.4%, while the average EU settled at 2.6%
The sentiments were found in an “Inflation Monitor” posted by the Bank of Greece (BoG) on Monday.
Lithuania (0.3%), Finland (0.7%), and Latvia (1%) recorded the lowest inflation in March, with Croatia (4.9%), Austria (4.2%) and Estonia (4.1) witnessing the highest rates
The Eurozone average dropped to 2.6%, according to the preliminary estimates by Eurostat
The statistics authority cited a decline in energy prices, especially a 60.2%-decrease in natural gas prices.
Despite the overall trend, Greece faces persistent challenges with rising food prices, as the food, alcohol and tobacco index totaled 7.1% during the month, on an annual basis, slightly lower than 7.6% in Dec 2023
Across the European Union, annual inflation reached 3.4% in December 2023, rising from 3.1% in November marking a significant decrease from the 10.4% recorded one year earlier
The Greek economy is facing 8 chronic "ailments" fuelling inflation which can be distilled to a mix of Greed for profits by businesses “Greedflation”, dependence on domestic production and consumption on imports, the pandemic, the energy and climate crisis, along with low wages
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