09.08.202112:45:00UTC+00Greece Consumer Price Inflation Highest Since 2018

Greece consumer prices logged its biggest increase in more than two years in July, data released by the Hellenic Statistical Authority showed on Monday.

Consumer prices rose 1.4 percent year-on-year in July, following a 1 percent rise in June. This was the largest increase since October 2018.

Meanwhile, consumer prices dropped 1.4 percent on a monthly basis, reversing a 0.9 percent rise in June.

The annual growth was driven by the 1.7 percent rise in food and non-alcoholic beverages and 4.2 percent increase in housing cost.

EU harmonized inflation rose slightly to 0.7 percent in July from 0.6 percent in June. On month, the harmonized index of consumer prices dropped 1.3 percent, in contrast to the 1.2 percent rise in June.

Another report from the statistical office showed that industrial production advanced 3 percent on month in June, reversing a 4.1 percent drop in the prior month. On a yearly basis, growth in industrial production eased to 8.8 percent from 14.1 percent in May.

Manufacturing and mining output gained 6.8 percent and 9 percent annually, respectively. Electricity output grew 19.4 percent.