Greece inflation highest since September 1994
- Economy
- DPA
- Published Date: 03:38 | 09 June 2022
- Modified Date: 03:50 | 09 June 2022
Greece's consumer price inflation accelerated further in May to reach its highest level in nearly twenty-eight years, data from the Hellenic Statistical Authority showed on Thursday.
The consumer price index climbed 11.3% year-over-year in May, faster than the 10.2% increase in April. Prices have been growing since May 2021.
Furthermore, this was the highest inflation rate since September 1994, when prices had risen 11.7%.
The recent upturn in inflation was largely driven by a 35.0% jump in housing costs. Transport charges also registered a double-digit growth of 18.8%.
Prices for food and non-alcoholic beverages rose 12.1% annually in May and those for clothing and footwear went up 5.6%.
The EU measure of the harmonized index of consumer prices, or HICP, climbed 10.5% yearly in May, following a 4.0% gain in November.
On a monthly basis, the HICP increased at a slower rate of 0.9% in May, after a 2.0% gain in the preceding month.
The consumer price index climbed 11.3% year-over-year in May, faster than the 10.2% increase in April. Prices have been growing since May 2021.
Furthermore, this was the highest inflation rate since September 1994, when prices had risen 11.7%.
The recent upturn in inflation was largely driven by a 35.0% jump in housing costs. Transport charges also registered a double-digit growth of 18.8%.
Prices for food and non-alcoholic beverages rose 12.1% annually in May and those for clothing and footwear went up 5.6%.
The EU measure of the harmonized index of consumer prices, or HICP, climbed 10.5% yearly in May, following a 4.0% gain in November.
On a monthly basis, the HICP increased at a slower rate of 0.9% in May, after a 2.0% gain in the preceding month.
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