ELSTAT: Deflation in October in Greece



The Greek economy continues to move in conditions of stagnant inflation, as inflation decreased by 1.8% in October this year, from a decrease of 2% in September 2020 and against a decrease of 0.7% in October 2019. However, between October and September this year, inflation ” 0.3%, which is reflected in the price increases that were recorded, with the main ones being recorded in: Passenger transport by plane (14.6%), fresh vegetables (8.7%), natural gas (8.6%) ), heating oil (7.1%), lamb and goat (2.3%), clothing-footwear (0.6%), dairy and eggs (0.3%) and bread and cereals (0.3%) On the other hand, the main price reductions were in: Poultry (4.1%), wines (2.8%), fresh fish (1.7%), fresh fruit (1.3%) and fuels and lubricants (0 For the new reduction of inflation in October on an annual basis, the main contributions were the price reductions in: Natural gas (24.6%), heating oil (23.4%), air passenger transport (18, 8%), hotels- motels- inns (15 , 1%), combined passenger transport (12.4%), rail passenger transport (12.3%), fuel and lubricants (11.1%), road passenger transport (8.8%), poultry (6, 8%), olive oil (6.8%), potatoes (6.2%), mineral water – soft drinks – fruit juices (4.9%), solid fuels (3.3%), telephone services (2.8%) ), electricity (1.6%) and clothing and footwear (0.5%). On the contrary, the main price increases were recorded in: Fresh fruits (13.4%), other edible oils (12%), fresh vegetables (8.9%), lamb and goat (6.1%), pastries – jams – honey (4.5%), cold cuts (3.7%), preserved or processed vegetables (3.7%), pork (3.6%), yogurt (2.8%), fresh fish (2.3%) , coffee-cocoa-tea (2.3%), new cars (2.1%), raw whole milk (1.6%), bread and cereals (0.8%) and beef (0.7%). The indices As announced by ELSTAT, the decrease in the general consumer price index in October was mainly due to the changes in the following groups of goods and services: 1. From the reductions of the indices by: * 0.5% in the group “Clothing and footwear”, due to reduction of prices in clothing and footwear. * 4.6% in the group “Housing”, due to reduction of prices mainly in: natural gas , heating oil, electricity, solid fuels. * 1% in the group “Durable goods – Household goods and services”, due mainly to the reduction of prices in: home textiles, household goods. * 1.2% in the group “Health “, Mainly due to the reduction of prices in pharmaceutical products. Part of this decrease was offset by the increase mainly in prices for medical, dental and paramedical services. * 7.2% in the “Transport” group, due to a decrease in prices mainly for: fuel and lubricants, airline tickets, passenger tickets by rail, road passenger transport, combined passenger transport. Part of this decrease was offset by the increase mainly in the prices of new cars. * 2.5% in the group “Communications”, mainly due to the reduction of prices in telephone services. * 1% in the group “Leisure – Cultural activities”, due mainly to of prices on audiovisual equipment – computers – repairs, small leisure items – flowers – pets. * 0.7% in the group “Hotels-Cafes-Restaurants”, due mainly to reduction of prices in hotels-motels-inns. Part of this decrease was offset by the increase in prices mainly in restaurants – confectioneries – cafes – canteens. * 1.3% in the group “Other goods and services”, due to a decrease in prices mainly in other types of personal care.2. From the increases of the indices by: * 1.9% in the group “Diet and non-alcoholic beverages”, due to increase mainly in the prices of: bread and cereals, beef, pork, lamb and goat, cold cuts, fresh fish, raw whole milk, yogurt, other edible oils, fresh fruits, fresh vegetables, preserved or processed vegetables, pastries – jams – honey, coffee – cocoa – tea. Part of this increase was offset by a decrease in prices mainly for: poultry, olive oil, potatoes, mineral water – soft drinks – fruit juices. Between October and September this year, the general index increased by 0.3%, compared to an increase of 0.1% in the corresponding comparison of the previous year. In terms of harmonized inflation, it decreased further in October by 2% , from a decrease of 2.3% in September this year and compared to a decrease of 0.3% in October 2019. On a monthly comparison (October to September), the harmonized index showed an increase of 0.2% this year, compared to a decrease of 0.1% the corresponding comparison of the previous year. Follow it on Google News and be the first to know all the news See all the latest News from Greece and the World, at



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