Cost of living: inflation at 10.2% in April

Inflation jumped to 10.2% in April of this year, breaking a 28-year record since inflation was in double digits in April 1994 alone.

The jump to 10.2% came after 8.9% recorded in March, reports ΕΛΣΤΑΤ. The Finance Ministry estimates for 2022 have already been revised, the average inflation rate has reached 5.6%, and under the Stability Program there is a second nightmare scenario – a continued surge in energy prices with the index skyrocketing to 7.6%.

Rising food prices are simply “explosive”. Over the year, the cost of natural gas increased by 122%, electricity – by 88%, and fuel oil – by 55%. Prices rose 29% for fuel and 15.8% for air transport. Also, the cost of vegetable oil increased by 22%, vegetables by 13% and dairy products by 11.7%. The price of bakery products is 10% higher in total.

The increase in the overall consumer price index by 10.2% in April compared to the corresponding index in April 2021 was mainly due to changes in the following groups of goods and services:

  • 10.9% in the “Food and non-alcoholic beverages” group, mainly due to rising prices for bread and cereals, meat (in general), fish (in general), dairy products and eggs, oils and fats, fresh fruits, vegetables (in general), sugar – chocolates – ice cream, other products, coffee – cocoa – tea, mineral water – soft drinks – fruit juices.
  • 1.6% in the clothing and footwear group.
  • 35.2% in the “Housing” group, mainly due to rising prices for: rent for housing, electricity, natural gas, fuel oil, solid fuel.
  • 4.2% in the Durable goods group – household items and services, mainly due to rising prices for furniture and decor items, home textiles, glassware and household utensils, household items, household services.
  • 15.4% in the Transport group, mainly due to rising prices for new cars, used cars, auto parts and accessories, fuels and lubricants, maintenance and repair of personal vehicles, air passenger tickets, passenger tickets for ships.
  • 1.2% in the Leisure – Cultural activities group, due to rising prices mainly for permanent leisure and cultural goods, small goods for recreation – flowers – animals, cinemas – theaters, stationery and design materials, etc. Part of the growth was offset lower prices, mainly for the repair of audiovisual equipment, computers.
  • 0.9% in the “Education” group, mainly due to the increase in the cost of education in the secondary education system.
  • 3.8% in the Hotels-Cafes-Restaurants group, mainly due to price increases in restaurants-confectionery-cafes, hotels-motels-hotels.
  • 0.9% in the group Other goods and services, mainly due to higher prices for other types of personal hygiene. Part of this increase was offset mainly by lower vehicle insurance prices.

Reduction:

  • 2.7% in the Communications group, mainly due to lower prices for mobile phone equipment and telephone services.



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