Inflation in Greece is approaching 1993 levels, when the consumer price index rose by 12%, according to the latest official report. ELSTAT, which places the May CPI at 11.3%. Recall that in 1994 inflation was at the level of 10.7%. ECB: downgraded growth forecasts – sees further rise in inflation It is reported that the […]
Tag: rising prices
State support packages due to price increases
As prices get higher and higher every day, and the population begins to grumble, the authorities are frantically looking for an opportunity to ease tensions by issuing from time to time handouts benefits. New emergency measures to be announced within a month This was recently stated by government spokesman Giannis Ikonomou, who told the media […]
Greece: more price hikes coming, especially for basic foodstuffs
New price increases of around 10%, which cover almost all categories of products in supermarkets, show price lists that go from suppliers to companies and will be valid from July. It should be noted that this is happening against the backdrop of rising prices for other categories of consumer goods and services. With the food […]
Minister of Agriculture: “There are no problems with food security in Greece”
Greece will have no food security or supply chain problems due to Russia’s war with Ukraine, two countries that are the world’s most important grain exporters, the agriculture and food development minister said on Monday. The increase in grain prices since the start of the Russian invasion has been “breaking” one record after another, and […]
Inflation in Greece jumped to 11.3% in May, the highest level in 29 years
Annual consumer inflation in Greece jumped to its highest level in 29 years at 11.3% in May as prices for energy, housing, transportation and food rose, official data showed on Thursday. Inflation accelerated from 10.2% in April, statistics service reports ELSTAT. On a monthly basis, consumer inflation rose by 0.7%. Annual inflation in Greece, harmonized […]
A new “explosion” of prices for bread, milk and cheese
In the dairy industry, due to a large increase in prices (up to 35%) for some products, sales dropped sharply (by 9% -11%). Prices for essential goods have risen in recent months. Consumers have experienced different prices on supermarket shelves even for several days. A nightmare situation is developing for the townspeople, who are no […]
Why are food prices so high in Greece?
Soaring prices, a global phenomenon, can be largely imported into Greece due to its heavy dependence on imported energy and raw materials. But that’s not the only reason why the prices of basic commodities in the country have skyrocketed. There are a number of factors behind this pervasive rise in prices, ranging from energy and […]
Inflation in Greece is growing every day
Inflation in Greece “jumped” to 10.7% in May from 10.2% in April. According to preliminary data announced by Eurostat, inflation in our country is boosted by prices for liquid fuels and electricity, but for several weeks now there has been a significant increase in prices for basic products such as food and detergents. It is […]
Greece: gasoline up to 3 euros per liter?
The country’s market immediately reacted to the seizure of 2 Greek tankers by Iran, as a result of which the prices for 95th gasoline rose by almost 10% on Sunday and reached 2.38 euros in Athens, and on the islands to a shocking 2.5 euros per liter. Fuel traders predict further growth during the week, […]