Data on producer prices in the industry in October are a harbinger of new pice hikes.
According to figures released by the Hellenic Statistical Authority, the Overall Producer Price Index (PPI) in Industry (total of domestic and non-domestic market) with base year 2015=100.0 in October 2022 recorded an increase of 35.4% compared with October 2021. The corresponding index in October 2021 had recorded an increase of 23.5% compared with October 2020.
The Overall Producer Price Index in October 2022 recorded an increase of 8.1% compared with September 2022. The corresponding index in October 2021 had recorded an increase of 3.3% compared with September 2021.
The average Overall Index for the twelve-month period from November 2021 to October 2022 increased by 36.5% in comparison with the corresponding index for the period from November 2020 to October 2021, while the increase recorded between the previous twelve-month periods amounted to 7.6%.
The causes
The increase of 35.4% in the Overall Producer Price Index in Industry in October 2022 compared with October 2021 is on account of the annual changes of the sub-indices of the markets as follows:
a. 36.0% increase in the PPI of the Domestic Market. More specifically, the aforementioned increase was the result of the yearly changes mainly of the sub-indices in the following NACE Rev.2 divisions:
b. 33.7% increase in the PPI of the Non-Domestic Market. More specifically, the aforementioned increase was the result of the yearly changes mainly of the sub-indices in the following NACE Rev.2 divisions:
Latest News
Developing the Blue Carbon Economy in Greece
Can Greece make money by protecting its marine environment?
EIB Appoints Greece’s Ioannis Tsakiris as New VP
Ioannis Tsakiris started the new role May 1 after spending 15 years at the European Investment Fund (EIF) and serving as Greece’s Deputy Minister for Development and Investments
Two Greek Beaches in Top 50 in the World
Both Greek beaches were on the list of the best beaches in Europe too
Eurostat: Greece 20th out of 26 European States in Hourly Average Wage
According to figures released by Eurostat, the Benelux Grand Duchy of Luxembourg, one of Europe’s hubs for finance, is in first place
Greek Property Renovation Surge amid Economic Constraints
This has led to a notable escalation in renovation costs, with average prices per square meter exceeding previous norms and reaching even 1,000 euros in premium locations
RRF: Additional €5.1bln Funds for Subsidies to Greece in 2025
By April 22, funds totaling 5.75 billion euros had been transferred for approved projects of the Recovery Fund to entities within and outside the general government and final recipients
OECD: Greek Economy Resilient with 2% Growth Forecast for 2024
However, the OECD highlights challenges including the need to enhance productivity and fiscal adjustment due to high debt levels.
Challenges and Delays in Greece’s Hydrocarbon Exploration
Sources disclose that the petroleum companies holding the concessions are seeking partners to jointly invest and share the costs of exploration and drilling.
Greek Beach Visitors Can Report Violations on New ‘MyCoast’ App
Greek authorities hope the newly-launched, free ‘MyCoast’ app will help clamp down on public beach violations
BoG Figures Confirm Banner Year for Greek Tourism in 2023
20.6 billion euros in related revenues topped the previous year’s figure by 16.5%