The spike in inflation in July to 3%, as reflected in Eurostat’s provisional data, is causing concern among the government’s financial staff, as well as worsening family budgets.
Indicative of the climate of concern that prevails in the government is that the Minister of Development, Takis Theodorikakos, is meeting today with the Greek Supermarket Association, with the main topic of discussion being accuracy and ways to hold down prices.
At the same time, inflation in the eurozone also stood at 2.6%, above June’s 2.5% and analysts’ estimates that it would remain at the same levels.
Accuracy: New meeting between Theodorikakos and the Union of Supermarkets – The focus is on prices
Looking at the main components of inflation in the euro area, services are expected to have the highest annual rate in July (4.0%, up from 4.1% in June), followed by food, alcohol and tobacco (2, 3%, compared to 2.4% in June), energy (1.3%, compared to 0.2% in June) and non-energy industrial goods (0.8%, compared to 0.7% in June).
THE structural inflation in the eurozone, which excludes volatile energy and unprocessed food prices, was held at 2.8% on an annual basis, while prices in this category fell 0.1% on a monthly basis.
However, the indications were more positive at the monthly level, as in the July-June comparison the CPI remained unchanged in the eurozone (0%), while in the last comparison it had shown a monthly increase of 0.2%.
In Greece, prices showed a monthly decrease of 0.4%.
The highest inflation rate was seen in Belgium at 5.5% per year, with the Netherlands and Estonia at 3.5%.
In contrast, in Latvia the CPI ran at just 0.8% per year, in Lithuania at 1.1% and in Slovenia at 1.4%.
Source: OT
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