32.8% jump in import prices in Greek industry in June

Costs in Greek industry showed a strong jump in June with an annual increase that exceeded 30%, although on a monthly basis import prices showed a slight decrease of just over 1%.

In detail, as announced by ELSTAT, the General Index of Import Prices in Industry, with a base year of 2015=100.0 and a reference month of June 2022, compared to the corresponding index of June 2021, showed an increase 32.8% against increase 20.5% which was noted when comparing the corresponding indicators of the year 2021 with 2020.

The General Index during the month of June 2022, compared to the May 2022 index, showed a decrease 1.1% against increase 2.6% which was noted during the corresponding comparison of the indicators of the year 2021.

The average General Index of the twelve months July 2021 – June 2022, compared to the average General Index of the twelve months July 2020 – June 2021, showed an increase 29.6% against increase 1.5% which was noted during the corresponding comparison of the previous twelve months.

Energy accounted for the lion’s share of the cost increase, with electricity, natural gas, steam and air conditioning showing a whopping 142.4% increase compared to the same period in 2021.

Close behind was production of coke and refined petroleum products, which jumped 109% from last year.

Crude oil and natural gas production was up 54% and base metal production was up 27.8%.

On a month-to-month basis, however, the cost of supplying electricity, natural gas, steam and air conditioning was down 8.8% and pumping crude oil and natural gas by 6%, while in contrast the production of coke and refined petroleum products increased by 9 %.