Greek inflation jumps to 10.2% y/y in April, hits 28-year high

Greece’s annual consumer inflation jumped to its highest level in 28 years in April at 10.2% on the back of surging costs for energy, housing, transportation and foods, official data showed on Tuesday.

Price growth was 8.9% in March, according to statistics service ELSTAT.

Greece’s annual EU-harmonised inflation also rose sharply to 9.1% in April from 8.0% in March, further squeezing disposable incomes.

EU-harmonised inflation is an index of components used across the EU to measure inflation in a consistent way.

Natural gas prices soared 122.6% on an annual basis, while electricity prices increased 88.8%, ELSTAT said.

The cost of housing rose 35.2% year-on-year, transportation prices were up 15.4% with foods and non-alcoholic beverages 10.9% more expensive, the data showed.
Source: Reuters (Reporting by George Georgiopoulos; Editing by Raissa Kasolowsky)