Industrial import prices down 9.2% in September

The so-called imported inflation moved downward last September.

According to Hellenic Statistical Authority-ELSTAT, the general Import Price Index in Industry showed an annual decrease of 9.2% in September 2023, compared to the corresponding index of September 2022, against a 25.2% increase noted when comparing the corresponding indices of the year 2022 with in 2021.

However, the General Index during the month of September 2023, compared to the August 2023 index, showed an increase of 3.9% against a decrease of 2.2% that occurred during the corresponding comparison of the year 2022 indices.

The average General Index of the twelve months October 2022 – September 2023, compared to the average General Index of the twelve months October 2021 – September 2022, showed a decrease of 6.6% against an increase of 30.9% noted during the corresponding comparison of the previous twelve months.

Year-on-year comparison

The decrease of the General Index of Import Prices by 9.2%, in the month of September 2023, compared to the corresponding index
of September 2022, due:

a. In the reduction of the Import Price Index from countries outside the Eurozone by 13.1%

b. In the reduction of the Price Index of Imports from Eurozone Countries by 0.1%

The decrease of the General Import Price Index (total market) by 9.2% was mainly contributed by the changes in the indices of the two-digit branches of the NACE Rev. classification. 2, as follows:

Monthly level

The increase of the General Import Price Index by 3.9%, in the month of September 2023, compared to the corresponding index of August 2023, is due to:

a. In the increase of the Import Price Index from countries outside the Eurozone by 5.8%

b. In the increase of the Import Price Index from Eurozone Countries by 0.4%

The increase of the General Index of Import Prices (total market) by 3.9% was mainly contributed by the changes in the indices of the two-digit branches of the NACE Rev. classification. 2, as follows: