Greece Records The Highest Price Rise In 28 Years

Inflation in Greece in April 2022 was 10.2% year-on-year, with gas, light and diesel heating fuel prices rising the most, Greek statistics service Elstat reported.

Inflation was the highest in 28 years, a price increase not seen since 1994.

Inflation rose to double digits in April, up from an annual rate of 8.9% in March 2022.

In April this year compared to the same month last year, there were significant price increases in the energy sector, namely for natural gas (122.6%), electricity (88.8%), heating oil (65.1%), fuels and lubricants (29%) and solid fuel (5.3%).

« The course of inflation shows that the worst-case scenarios will eventually be confirmed, given the steady rise in prices of almost all products and consumer services. The Ministry of Finance’s estimates have already been revised and inflation has been raised to 5.6%, while the stability agenda includes a second worst-case scenario of continued energy price increases, with the price index rising to 7.6%, » Greek public television ERT noted in connection with the new data.

source: ft.com

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