Inflation in the OECD countries jumped to 8.8% in March 2022 as well energy prices continue to grow.
Consumer prices rose 8.8% year-on-year in March 2022 compared to 7.8% in February 2022 and just 2.4% in March 2021. In fact, it was their biggest rise since October 1988.
About 1/5 of OECD countries recorded double-digit inflationwith the highest percentage in Turkey at 61.1%.
As far as energy prices they jumped to 33.7% year-on-year in March from 26.6% in February, a record since May 1980.
Excluding food and energy, annual inflation rose to 5.9% in March from 5.6% in February 2022.
The annual G20 inflation also increased in March 2022, reaching 7.9% compared to 6.8% in February.
It is noted as stated by the Minister of Energy, Costas Skrekas on SKAI 100.3 radio, the government in daily meeting prepares the plan to reduce the price of electricity and added that the relevant announcements will be made by the Prime Minister, when everything is ready.
He stressed that households and businesses can not wait for European decisions so meetings are held daily to address the issue.
The minister characterized very good work done by the Energy Regulatory Authorityand reiterated that as the Prime Minister has stated, any surplus profits from providers will be returned immediately to consumers.
According to information from SKAI, as most likely choice The intervention in wholesale electricity market by the end of the year with the prospect of extension and for the first half of 2023 with the budgetary cost being estimated at 5 billion euros.
Alongside the existing subsidy will be continued in electricity bills with the aim of bringing the final household bill to 2020 levels.
According to information the subsidy rate will be slightly lower because production cost prices in April were lower.
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