Inflation in Greece surged to 10.2% year-on-year in April from 8.9% the previous month, making it the latest EU country to be hit with double-digit inflation, the highest level since 1994.

The figures were released by the Hellenic Statistical Authority (ELSTAT).

The largest increase in prices were registered in the cost of natural gas (122.6%), electricity (88.8%), diesel fuel for heating (65.1%), fuel lubricants (29%), and solid fuels (5.3%).

‘Food basket’ products also registered a rise in price. Prices for oils and fats surged 22%, meat products – 14.1%, and vegetables – 13.8%.

Dairy products and eggs jumped in price by 11.7%, while the costs of bread and cereals grew 10%. Prices for fresh fruit, and even coffee, cocoa, and tea increased 7.1%.

Apart from this, transportation, accommodation, restaurants, automobiles, restaurants, and even cinema tickets also showed price increases of various degrees.

With inflation surpassing 10%, Greece became the ninth country in the Eurozone in which official inflation has reached double digits, following Bulgaria (10.5%), Slovakia (10.9%), the Netherlands (11.2%), Czech Republic (11.9%), Poland (12.3%), Latvia (13.2%), Lithuania (16.6%), and Estonia (19%).

The ILOSTAT reoprted that the annual rate of inflation worldwide, as measured by the consumer price index (CPI), accelerated to 9.2 per cent in March 2022, up from 7.5 per cent in February 2022, 6.8 per cent in January 2022 and 6.4 per cent in December 2021.

Global stocks continued to slide amid growth and inflation fears.
-AP