Annual inflation climbed to 3.4% in October after the jump in September by 2.2%, according to data released today by the Hellenic Statistical Authority.
It is worth noting that until April ELSTAT recorded negative prices in annual inflation. Annual inflation has been on the rise since last May, showing a marginal increase of 0.1%, while in the summer and the first autumn months the price rally accelerated, leading to a rapid rise in the index.
It is noted that during the corresponding comparison of the year 2020 with 2019, inflation had decreased by 1.8%.
Compared to September, the general Consumer Price Index increased by 1.5% compared to an increase of 0.3% during the corresponding comparison of the previous year.
At the same time, the average CPI of the twelve months November 2020 – October 2021, compared to the corresponding Index of the twelve months November 2019 – October 2020, did not show a change compared to a decrease of 0.8% in the respective comparison of the twelve months November 2019 – October 2020 with in the twelve months of November 2018 – October 2019.
Comparison of October 2021 with October 2020
According to ELSTAT data, the increase of the General CPI by 3.4% in October 2021, compared to the corresponding Index of October 2020, came mainly from the changes in the following groups of goods and services:
From the increases of the indices by:
• 3.0% in the group Food and non-alcoholic beverages, due mainly to increase in prices of: bread, beef, lamb and goat, poultry, fresh fish, cheese, olive oil, fresh vegetables, potatoes, coffee-cocoa-tea, sugar- chocolates-sweets-ice creams, other foods, mineral water-soft drinks-fruit juices. Part of this increase was offset by lower prices mainly in: breakfast cereals, pork, fresh fruit, preserved or processed vegetables.
• 0.4% in the Clothing and footwear group, due to price increases in clothing and footwear.
• 11.7% in the Housing group, due to an increase mainly in the prices of: electricity, natural gas, heating oil.
• 0.8% in the group Durable goods-Household items and services, due mainly to price increases in: furniture and decorative items, household services. Part of this increase was offset by lower prices mainly on home appliances and repairs.
• 9.2% in the Transport group, due mainly to price increases in: fuels and lubricants, new cars, airline passenger tickets.
• 0.9% in the Education group, mainly due to the increase in the prices of secondary education tuition fees.
• 0.9% in the Hotels-Cafes-Restaurants group, due mainly to price increases in: restaurants-patisseries-cafes, hotels-motels-inns.
From the reductions of the indicators by:
• 2.5% in the Communications group, mainly due to the reduction of prices in telephone services.
• 0.4% in the group Leisure-Cultural activities, due mainly to reduction of prices in: audio and video processing equipment, durable leisure goods. Part of this decrease was offset by the increase mainly in prices for small leisure-flowers-pets.
• 1.3% in the group Other goods and services, due mainly to the reduction of prices in: other types of personal care, vehicle insurance premiums.
Comparison of October 2021 with September 2021
The increase of the General CPI by 1.5% in October 2021, compared to the corresponding Index of September 2021, came mainly from the changes in the following groups of goods and services:
From the increases of the indices by:
• 0.1% in the group Diet and non-alcoholic beverages, due to increase mainly in prices of: bread, pasta, poultry, cold cuts, cheeses, olive oil, potatoes, pastries-jams-honey, coffee-cocoa-tea. Part of this increase was offset by lower prices mainly in: pork, fresh fish, fresh fruit, fresh vegetables, preserved or processed vegetables.
• 1.5% in the Clothing and footwear group, due to price increases in clothing and footwear.
• 7.8% in the Housing group, mainly due to price increases in: electricity, natural gas, heating oil.
• 0.4% in the group Durable goods-Household items and services, due to an increase mainly in household services.
• 2.4% in the Transport group, due mainly to price increases in: new cars, fuel and lubricants, airline passenger tickets.
• 0.2% in the group Hotels-Cafes-Restaurants, due mainly to the increase of prices in restaurants-confectioneries-cafes.
From the decrease of the index by:
• 0.6% in the group Other goods and services, mainly due to lower prices in other personal care items
The increase of the Harmonized Index to 2.8%
In a separate announcement, ELSTAT states that the Harmonized Index of Consumer Prices of October 2021, compared to the corresponding Index of October 2020, showed an increase of 2.8% compared to a decrease of 2.0% in the corresponding comparison of the year 2020 with 2019 .
The HICP in October 2021, compared to September 2021, showed an increase of 1.1% compared to an increase of 0.2% in the corresponding comparison of the previous year.
The average HICP for the twelve months November 2020 – October 2021, compared to the corresponding Index of the twelve months November 2019 – October 2020, showed a decrease of 0.5% compared to a decrease of 0.8% recorded during the corresponding comparison of the twelve months November 2019 – October 2020 with the twelve months of November 2018 – October 2019.
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Source From: Capital
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