December 1, 2023

Athens News

News in English from Greece

Explosive price increases: food, drugs, clothing, etc.

Official “inflation in Greece may be 4.1%, but the real situation with the prices of food and medicine is completely different, since their prices are rising at a tremendous rate.

Thus, although Eurostat data showed a new slowdown in inflation in Greece, to 4.1% in May from 4.5% in April, food prices continue to rise, having increased by an average of 11.6% in May. Prices for medicines increased even more (+18%)!

The decrease in the official inflation index is fully explained by the fall in prices for gas by 49.6%, for electricity – by 24.1%, for telephone services – by 22%, for heating oil – by 20.7% and for fuels and lubricants – by 16.8%.

On the other hand, the prices of food and medicine, as well as other commodities and services rose sharply, as the corresponding index increased by 11.6%. So basic basic foodswhich in March 2022 cost 132.86 euros, last June years have reached 154 eurosA Half a year ago, in January of this year, the account rose to 178.14 euros. Today, for exactly the same list, the cost is EUR 215.33which is an increase of… 90%!

Price increases were recorded for the following goods and services:

  • Taxi fare – 32.9% increase.
  • Solid fuel +28.9%
  • Flights +27.4%
  • Pharmaceuticals: 18.6% increase
  • Dairy products and eggs by 18.6%
  • Oils and fats by 15.8%
  • Hotels: 14.4% growth
  • Other food – growth 14.2%
  • LPG price increase 14.2%
  • Direct household consumption increased by 13.9%
  • Coffee-cocoa-tea growth 13.2%
  • Mineral water, soft drinks, fruit juices growth 12.9%
  • Meat products – growth 11.9%
  • Ferry tickets – 11.2%
  • Bread and cereals – growth 11.1%
  • Sugar, chocolate, sweets, ice cream – by 10.3%.
  • Vegetables in general – by 9.7%.

For more general categories of goods and services, the following increases were recorded in May:

  • 11.6% in the “Food and non-alcoholic beverages” group, mainly due to an increase in prices for bread and cereals, meat (general), fish (general), dairy products and eggs, oils and fats, fruits (general), vegetables (general), sugar-chocolate-sweets-ice cream, other foodstuffs, coffee-cocoa-tea, mineral water-soft drinks-fruit juices.
  • 3.5% in the “Alcoholic beverages and tobacco” group, mainly due to higher prices for alcoholic beverages.
  • 11.8% in the “Clothes and footwear” group, due to the increase in prices for clothing and footwear.
  • 9.9% in the group “Durable goods-household goods and services”, mainly due to rising prices for furniture and decorations, household appliances and repairs, dishes and household utensils, household items for immediate consumption, household services.
  • 7.8% in the “Healthcare” group, mainly due to rising prices for pharmaceuticals, medical, dental and paramedical services, hospital care.
  • 3.3% in the “Recreation and Leisure” group, mainly due to rising prices for durable goods for recreation and culture, small goods for recreation – pets – pets, cinemas – theaters, package holidays.
  • 2.2% in the “Education” group, mainly due to higher prices for tuition fees in primary and secondary schools.
  • 7.4% in the group Hotels-Cafeterias-Restaurants, mainly due to the growth in prices for restaurants-cafeterias, hotels-motels.
  • 6.8% in the “Other goods and services” group, mainly due to price increases in hairdressing and personal care stores, other personal care, other personal items, health insurance premiums, auto insurance premiums.

A comparison of the total CPI for May 2023 with the corresponding figure for May 2022 showed an increase of 2.8% compared to an increase of 11.3% in the corresponding comparison between 2022 and 2021. Compared to April 2023, it showed an increase of 0.4% compared to a 0.7% increase in the corresponding comparison of the previous year.

The average CPI for the twelve months from June 2022 to May 2023 compared to the corresponding CPI for the twelve months from June 2021 to May 2022 showed an increase of 7.8% compared to a 5.3% increase recorded in the corresponding comparison twelve months from June 2021 to May 2022 with twelve months from June 2020 to May 2021.

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