Wed, 25 May 2022

9th EU country sees inflation jump to double digits

RT.com
11 May 2022, 19:16 GMT+10

Greece has recorded its highest price increases in 28 years

Greece is the latest EU country to be hit with double-digit inflation, reaching the highest level since 1994.
Inflation in the country surged to 10.2% year-on-year in April from 8.9% the previous month, according to the Hellenic Statistical Authority (ELSTAT).

The largest increases 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 have also risen in price. In particular, 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.

READ MORE: EU nation sees highest inflation in decades

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%).

For more stories on economy & finance visit RT's business section

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