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Inflation 6.1% in February with 15% food price increases
  • 30 Apr 2023
  • economy

The decline of inflationary pressures compared to the previous month, but also the persistence of inflation at persistently high levels, is recorded by the Hellenic Statistical Authority.

In particular, from the comparison of the General Consumer Price Index of the month of February 2023 with the corresponding Index of February 2022, there was an increase of 6.1% against an increase of 7.2% that occurred during the corresponding comparison of the year 2022 with 2021.

According to ELSTAT data, the General CPI in the month of February 2023, compared to January 2023, showed an increase of 0.3%, compared to an increase of 1.1% that occurred during the corresponding comparison of the previous year.

On an annual basis, the prices of natural gas recorded a strong increase of 37.1% and of solid fuels by 25.3%, dragging the cost of transport to higher levels.

A 14.8% increase is recorded on an annual basis in the cost of food. In particular, the prices of meat show an increase of 20%, of bread 16.8%, while an increase of more than 25% is recorded in dairy products and eggs. The cost of oils increased by 22.9% on an annual basis, while an increase of more than 13% was also recorded in the categories of other foods and coffee-cocoa-tea.

The average CPI for the twelve months of March 2022 - February 2023, compared to the corresponding Index for the twelve months of March 2021 - February 2022, showed an increase of 9.6% against an increase of 2.6% recorded during the corresponding comparison of the twelve months of March 2021 - February 2022 with the twelve months of March 2020 - February 2021.

The revaluations

The increase of the General CPI by 6.1% in the month of February 2023, compared to the corresponding Index of February 2022, mainly came from the changes in the following groups of goods and services:

Of the increases in indicators by:
14.8% in the group Food and non-alcoholic beverages, due mainly to price increases in: bread and cereals, meats (general), fish (general), dairy and eggs, oils and fats, vegetables (general), sugar-chocolate- sweets-ice creams, other foods, coffee-cocoa-tea, mineral water-soft drinks-fruit juices.
2.9% in the group Alcoholic beverages and tobacco, due mainly to an increase in prices of alcoholic beverages (not served).
7.1% in the Clothing and Footwear group, due to price increases in clothing and footwear.
10.5% in the group Durable goods-Household goods and services, due to price increases mainly in: household appliances and repairs, glassware-tableware and houseware, household goods for immediate consumption, household services.
5.3% in the Health group, due mainly to price increases in: pharmaceutical products, medical products, medical, dental and paramedical services, hospital care.
6.5% in the Transportation group, due mainly to price increases in: new cars, used cars, mopeds-motorcycles, car parts and accessories, fuel and lubricants, maintenance and repair of personal transport equipment, taxi passenger tickets, passenger transport tickets by plane, ferry tickets.
3.5% in the Leisure-Cultural activities group, mainly due to price increases in: small leisure items-flowers-pets, cinemas-theatres, stationery and design materials, package holidays.
2.2% in the Education group, mainly due to price increases in: primary education fees, secondary education fees.
8.1% in the Hotels-Cafes-Restaurants group, mainly due to an increase in prices in: restaurants-patisseries-cafes-canteens, hotels-motels-inns.
5.8% in the Other goods and services group, due mainly to price increases in: hairdressers and personal care stores, other personal care items, other personal items, health insurance premiums.

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