ELSTAT – 26% increase in the Import Price Index in Industry in September

Inflation in Greece rose sharply last September, a sign that inflationary pressures will persist in the near future.

In particular, the General Price Index of Industry, and reference month in September 2021, compared to the corresponding index of September 2020, showed an increase of 26.0% against a decrease of 11.4% recorded by
the comparison of the respective indicators of the year 2020 with 2019, according to ELSTAT.

Besides, the fact of the rise of inflation by 3.4% is inextricably linked with this, as announced yesterday by the Hellenic Statistical Authority.

The General Index for the month of September 2021, compared to the index for August 2021, showed an increase of 3.1% compared to a decrease of 2.9% that occurred during the respective comparison of the indices of the year 2020.

The average General Index of the twelve months October 2020 – September 2021, compared to the average General Index of the twelve months of October 2019 – September 2020, showed an increase of 9.7% compared to a decrease of 6.9% recorded during the corresponding comparison of the previous twelve months.

Where is the rise seen?

The changes in the indices of the following sectors mainly contributed to the increase in import prices:

-Production of coke and petroleum refining products 86.4%

-Pumping of crude oil and natural gas 78.3%

-Production of basic metals 26.8%

-Production of chemicals and products 8.5%

-Production of basic pharmaceutical products and pharmaceutical preparations 6.8%