Greece Inflation Rate records 11.6% in july
The annual inflation rate in Greece eased to 11.6 percent in July of 2022 from the 19-year high of 12.1 percent in the previous month.
It was the first deceleration in consumer prices since the inflationary trend began in June of 2021, as costs rose at a slower rate for transportation (20.6 percent vs 25 percent in June), amid lower fuel and airfare prices, housing and utilities (30.8 percent vs 31.5 percent), as lower electricity costs offset the rise in natural gas, and clothing and footwear (3.4 percent vs 4.6 percent), due to more aggressive summer sales.
On the other hand, the CPI rose faster for food and non-alcoholic beverages (13 percent vs 12.6 percent). On a monthly basis, consumer prices fell by 1.8 percent, the sharpest drop since January of 2019.
