Inflation rate in Greece for Sept. at 1.6%; food prices still at near double-digit level, 9.4%

The inflation rate in Greece for September 2023 eased to 1.6 percent (on an annual basis) the slowest increase since July 2021, although cost hikes for food items, ominously, continued to rise at near double-digit rates.

The figures were announced on Tuesday by the country’s statistics authority, EL.STAT.

The figure for the latter stood at 9.4 percent, still high, although the increase is the lowest, month-to-month, in a year and a half.

The lower rate of inflation comes only on a yearly basis, as the rate for September 2023 is higher by 1.8 percent when compared to August 2023; the rate of increase is 2.9 percent when compared to the corresponding month of 2022.

In the all-important food sector, the inflation rate for vegetables stood at 17.7 percent last month; 16.1 percent for cooking oils; 13.9 percent for fruits, similar to water-soft drinks-juices, 13.9 percent.

Conversely, a major reduction was recorded in the price for natural gas, down by 82 percent, while power rates fell, on average, by a marginal 1.2 percent.