Greek industry: Producer prices in October increase by 35.4%

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: