June 25, 2024

Athens News

News in English from Greece

Inflation swept over the US and the EU – where is Greece

“Highest US inflation in three decades,” the Financial Times wrote on its front page today, recording the shock of a 6.2% price hike in October, the largest in 31 years.

“This issue is a priority for Biden,” the message says.

In turn, Reuters caused a wave of concern in Europe with the release of inflation data in Spain to 5.5% in October, which was the largest increase in 29 years since September 1992.

Countries such as Germany are showing high rates of price growth (4.5% in October), while Lithuania with 8%, Romania with 7.9%, Estonia with 7% and Poland with 6.8% %.

Where is Greece
Average inflation in the Eurozone in October was 4.1%. In Greece, the indicator dropped below the European average, but then rose and reached 3.4% in October. The Greek government has intervened twice to deal with rising electricity prices, international agencies report.

According to Reuters, “Greece is more than doubling its subsidies to help households cope with rising electricity prices.”

At the Eurogroup meeting on Monday, Greece was one of five countries to support France’s new five-point proposal to tackle rising fuel prices, along with Spain and the Czech Republic.

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