Hellenic Statistics Agency report says that annual inflation rate in May rose to 5.4%, the highest level since August, 1997. The average price index in the first five months rose to 3.9% compared against forecast for 1.9% in 2010. Inflation rate in May compared to April went up 0.8% while it went up 0.2% the same period last year. Rise in inflation rate is due to increases in special consumption tax and VAT.
Rises Everywhere
The Hellenic Statistics Agency says inflation rate rose to this level due to price increases in the following groups:
1) By 16,9% from “Spirits and tobacco” group
2) By 2,4% ” Clothing & Shoes”, group
3) By 7,8% “Accomodation” group ( rise in heating oil price, rent, maintenance, plumbing etc)
4) By1,4% “Household Items- Services”, group ( rises in prices of furniture, bed spreads, linen, dinning sets, cleaning items-counterbalanced though by reduction in prices of appliances)
5) By 2,5% “Health” group, ( doctors, dentists bills, hospital treatment)
6) By 20,3% “Transport”, group (rises in price of cars, petrol, tolls, transport services)
7) By 3,7% “Communications” group ( rises in mobile phone bills part of it counterbalanced by drop in regular phone bills)
) By 0,7% “Recreation- Cultural Activities”, group (rises in books, newspaper, magazines, flowers, recreation services part of it counterbalanced by drop in prices of audiovisual equipment and computers)
9) By 3% “Education” group ( rises in fees of private and foreign language schools, private colleges
10) By 3,2% “Hotels – Coffee Shops- Restaurants” group
11) By 5,1% “Other Goods and Services”group, (rises in hairdresser’s services, jewelry, car insurance)
12)1.1% reduction in the group “Nutrition and non-alcoholic beverages” (drop in prices of olive oil, yogurt, fruit, fresh vegetables. Part of it counterbalanced by rise in price of cereals, fresh beef meat, potatoes, sweets.
Price index rose to 5.3% in May from 4.7% in April 2010 compared to 0.7% rise in inflation rate between 2009 and 2008.
(source: ert)
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