Annual inflation in Greece was 11.1% in August, which is 0.2% lower compared to the 11.3% announced in July, reports Eurostat.
However, on an annualized basis, inflation in our country remains higher than the average for the Eurozone. Eurostat’s initial August inflation data shows the first picture of consumer prices bouncing as announcements ELSTAT more data is expected from 9 September.
As government officials pointed out this month, a positive effect is expected from the new mechanism for subsidizing electricity, since since August 1, an indirect ceiling on retail electricity prices, close to 15-18 cents, has been set.
It remains, of course, for this mechanism to start working, since August was the month when there were several price increases, in particular for food, electricity and gas. Enterprises that have nothing to expect from subsidies and compensation will no doubt raise prices for both products and services.
More Stories
Greece is at the bottom of the EU in information and communication technologies
Real wages in Greece fell by 30%
ELSTAT: inflation increased by another 3.2% in March