New escalation recorded by inflation in Greece in March, according to the data announced today by the Hellenic Statistical Authority, with the index remaining on a downward trajectory for the eighth consecutive month.

In particular, annual inflation it slowed to 2.8% in May from 3% the previous monthand 11.3% in May 2022, as announced by ELSTAT.

However, this de-escalation was also solely due to the sharp decline in oil, natural gas and electricity prices, as food prices further increased by 11.6%.

In particular, within a year, price increases were recorded in: Bread and cereals (11.1%), Meat – general (11.9%), Fish – general (5.2%), Dairy products and eggs (18%), Oils and fats (15.8%), Fruits – general (2.6%), Vegetables – general (9.7%), Sugar – chocolates – sweets – ice creams (10.3%), Other foods (14.2%) , Coffee – cocoa – tea (13.2%), Mineral water – soft drinks – fruit juices (12.9%) and Alcoholic drinks – -not served (8.3%).

Prices also continued to rise in: Clothing and footwear (11.8%), House rents (4.1%), Home repair and maintenance (5.5%), Utilities (2.1%), LPG ( 14.2%), Solid fuels (28.9%), Furniture and decorative items (6.5%), Household appliances and repairs (6.1%), Glassware – tableware and household utensils (7.6% ), Household immediate consumption goods (13.9%), Household services (7.6%), Pharmaceutical products (18.6%), Medical-dental and paramedical services (4.9%), Hospital care (1.5 %), New cars (7.5%), Used cars (10.5%), Mopeds – motorcycles (7.5%), Car parts and accessories (11.9%), Maintenance and repair of personal transport equipment (4 .9%), Transportation of passengers by taxi (32.9%), Transportation of passengers by airplane (27.4%), Transportation of passengers by ship (11.2%), Durable goods of leisure and culture (3.2%), Small leisure items – flowers – pets (6.6%), Cinemas – theaters (5.6%), Package holidays (7.1%), Primary education (2.6%), Secondary education (2.7% ), Restaurants-patisseries-cafes-canteens (7.4%), Hotels-motels-inns (14.4%), Hairdressers and personal care shops (4.5%), Other personal care items (11.5% ), Other personal items (5%), Health insurance premiums (5.7%) and Vehicle insurance premiums (2.1%).

Conversely, prices decreased in: Natural gas (49.6%), Electricity (24.1%), Heating oil (20.7%), Fuels and lubricants (16.8%) and Telephone services (2.2 %).

While, between May and April, price increases continued in: Rice (5.4%), Flour and other cereals (8%), Pork (3.4%), Poultry (1.4%), Meats (3.1% ), Fish – in general (0.8%), Eggs (4%), Olive oil (4.4%), Fresh fruit (7.6%), Preserved or processed vegetables (3.4%), Potatoes (4, 3%), Ice creams (5.3%), Sauces-condiments (5.1%), Soft drinks (5.3%) and Spirits (5%).

Also in: House rents (0.4%), Pharmaceutical products (4.1%), Air passenger transportation (9.2%), Restaurants-patisseries-cafes (0.3%), Other personal care items (1.1%) and Electricity (3.3%).

Conversely, prices moved downwards in: Clothing and footwear (1.4%), Natural gas (13.5%), Fuel and lubricants (4.4%), Telephone services (0.3%) and Vehicle insurance premiums (0 .8%).

As announced by ELSTAT, the increase in the general consumer price index in May came mainly from the changes in the following groups of goods and services:

1. From the increases of the indicators by:

*11.6% in the “Food and non-alcoholic beverages” group, due to price increases mainly in: bread and cereals, meats (general), fish (general), dairy and eggs, oils and fats, fruits (general), vegetables (general), sugar- chocolates- sweets- ice creams, other food, coffee- cocoa- tea, mineral water- soft drinks- fruit juices.

*3.5% in the “Alcoholic beverages and tobacco” group, due mainly to an increase in prices of alcoholic beverages (not served).

*11.8% in the “Clothing and footwear” group, due to price increases in clothing and footwear.

*9.9% in the group “Durable goods – Household items and services”, due to price increases mainly in: furniture and decorative items, household appliances and repairs, glassware – tableware and household utensils, household consumables, household services .

*7.8% in the “Health” group, mainly due to price increases in: pharmaceutical products, medical-dental and paramedical services, hospital care.

*3.3% in the “Leisure-Cultural activities” group, due to price increases mainly in: durable leisure and culture goods, small leisure items – flowers – pets, cinemas – theaters, package holidays.

*2.2% in the “Education” group, mainly due to price increases in: primary education fees, secondary education fees.

*7.4% in the Hotels-Cafes-Restaurants group, mainly due to an increase in prices in: restaurants-patisseries-cafes-canteens, hotels-motels-inns.

*6.8% in the “Other goods and services” group, mainly due to price increases in: hair salons and personal care stores, other personal care items, other personal items, health insurance premiums, vehicle insurance premiums.

2. From the reduction of the index by:

*12.9% in the “Housing” group, mainly due to a decrease in prices in: electricity, natural gas, heating oil. Part of this decrease was offset by the increase in prices mainly in: house rents, house repair and maintenance, utilities, LPG, solid fuels.

*3.1% in the “Transportation” group, mainly due to a decrease in fuel and lubricant prices. Part of this decrease was offset by price increases mainly in: new cars, used cars, mopeds-motorcycles, car parts and accessories, maintenance and repair of personal transport equipment, taxi fares, air fares, passenger fares by boat.

*2.3% in the “Communications” group, mainly due to a decrease in prices for telephone services.

At the same time, the general index increased by 0.4% in May compared to April this year, against an increase of 0.7% recorded during the corresponding comparison of the previous year.

As for the harmonized inflation, it increased by 4.1% in May this year compared to May 2022, against a 10.5% increase noted during the corresponding comparison in 2022 with 2021. While, compared to April the harmonized index showed an increase of 0.5%, compared to an increase of 0.9% recorded in the corresponding comparison of the previous year.