Greek inflation rises to 13-year high

21:32, August 06, 2010      

Email | Print | Subscribe | Comments | Forum 

Inflation in Greece rose in July to 5.5 percent, the highest in 13 years, the Greek Statistical Authority said Friday.

The consumer price index (CPI) in debt-ridden Greece stood at 5.2 percent in June.

The new figure is the highest year-on-year inflation rate since August 1997, analysts noted, adding that will probably deteriorate consumer sentiment because the country is in deep recession amidst efforts to exit an acute debt crisis.

Due to tax increases implemented within the framework of an austerity plan to tackle the economic crisis, tobacco and alcohol prices jumped 19.2 percent on an annual basis in July while transportation costs rose 18.4 percent. Clothing prices grew 1.6 percent.

Analysts expressed fear that if inflation grows to six percent or more over the following months, it could derail efforts to face the crisis and the government's plans would need adjustment.

Source: Xinhua


  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Staff members watch a screen showing the blast-off of the Long March-2FT1 carrier rocket loaded with Tiangong-1 unmanned space lab module at Beijing Aerospace Control Center, Sept. 29, 2011. Commander-in-chief of China's manned space program Chang Wanquan announced Thursday night that the launch of Tiangong-1 space lab module was successful. (Xinhua/Wang Shen)
  • Chinese President Hu Jintao watches the launch of Tiangong-1 space lab module at Beijing Aerospace Control Center in Beijing, capital of China, Sept. 29, 2011. Other members of the Standing Committee of the Political Bureau of the Communist Party of China (CPC) Central Committee, including Wu Bangguo, Jia Qinglin, Li Changchun, Xi Jinping, Li Keqiang and Zhou Yongkang, are also present. (Xinhua/Rao Aimin)
  • The graphics shows the launch procedures of the carrier rocket of Tiangong-1 space lab module, Long March-2FT1 on Sept. 29, 2011. (Xinhua/Lu Zhe)
  • Image taken from Beijing Aerospace Control Center shows a Long March-2FT1 carrier rocket loaded with Tiangong-1 unmanned space lab module blasting off from the launch pad at the Jiuquan Satellite Launch Center in northwest China's Gansu Province, Sept. 29, 2011. (Xinhua)
  • On Sept. 28, tourists travel around the Mingshashan Scenic Area in Dunhuang, Gansu province by camel. With the National Day vacation right around the corner, more and more tourists from home and abroad are going to Dunhuang. Riding on a camel, they travel in the desert to enjoy the cities rare form of natural scenery. (Xinhua/Zhang Weixian)
  • Chinese forest armed forces work together with forest firefighters on Sept. 28. (Xinhua/Chai Liren)
Hot Forum Discussion