Inflation in Greece leaps to 11.6% in June – 8.6% in Eurozone

Inflation in Greece jumped to 11.6% in June 2022, according to data published today by the European Union’s statistical agency, Eurostat. In relation to May 2022, the increase is + 1.1%. This month the inflation in Greece stood at 10.5%.

According to the European Commission’s summer estimates, total inflation is predicted to reach 8.9% in 2022 and 3.5% in 2023.

As concerns the eurozone, inflation climbed to 8.6%, from 8.1% in May. A year earlier, the figure was just 1.9%. In the European Union, inflation jumped even higher to 9.6% from 8.8% a month earlier, while last year the rate was 2.2%.

The lowest annual rates were recorded in Malta (6.1%), France (6.5%) and Finland (8.1%). The highest annual rates were recorded in Estonia (22.0%), Lithuania (20.5%) and Latvia (19.2%). Compared to May, annual inflation fell in two Member States and rose in twenty-five.

In June, the highest contribution to the annual euro area inflation rate came from energy (+4.19 percentage points-p.p.), followed by food, alcohol and tobacco (+1.88 p.p.), services (+1.42 p.m.) and non-energy industrial goods (+1.15pp).