Inflation sweeps US and EU – Where is Greece?

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“The highest inflation in the US in three decades,” the Financial Times wrote on its front page today, capturing the shock of the 6.2% annual price increase in October, the largest in 31 years. “The issue is a high priority for Biden,” the paper said.

It was preceded by Reuters, which sent waves of concern to Europe, sending inflation spurts in Spain to 5.5% in October, the largest increase in 29 years since September 1992.

Countries such as Germany move higher with a rate of 4.5% in October and Belgium with 4.2% while in the first places are Lithuania with 8%, Romania with 7.9%, Estonia with 7% and Poland with 6.8%.

Where is Greece

The average inflation in the Eurozone for October in the Eurozone was 4.1%. In Greece, it moved below the European average, but upwards and reached 3.4% in October.

The Greek government, as reported by international agencies, has twice intervened to deal with rising electricity prices, with yesterday’s Reuters telegram noting that “Greece more than doubles subsidies to help households cope with increases in electricity prices. electricity prices “.

At Monday’s Eurogroup meeting, Greece was one of five countries supporting the new French five-point proposal to tackle fuel price hikes, along with Spain and the Czech Republic.

Estimates for the coming months

In fact, according to ECB President Christine Lagarde, inflation will remain high for longer than originally estimated. Based on the data so far, the forecasts speak of a gradual decline in inflation in 2022.

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Source From: Capital

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