Inflation soars to 6.2% in January - Fire increases in energy and food

With «broken brakes» runs the inflation, with the ELSTAT announce the index climbed to 6.2% from 5.1% in December, percentage which is a 26-year record, following the 7.3% set in 1996.

The signals are not encouraging at all, as they point to a continuation of the tension at least until the end of the first half of the year, with domestic market players talking about imminent increases on a wide range of goods and services up to 30% which will be gradually passed on to family budgets.

Analysis of the data shows an increase in the cost of gas by 154,8% against January 2021, heating oil against 36%, of fuel and lubricants by 21,6%. The current has appreciated by 56,7% while over 15% are the increases recorded in lamb - goat (17.6%) and olive oil (15,4%).

The increase of the General CPI by 6.2% in January 2022, compared to the corresponding index of January 2021, was mainly due to changes in the following groups of goods and services:

From the increases in the indicators by

- 5.2% in the Food and non-alcoholic beverages group, mainly due to an increase in prices in:

flour and other cereals, bread, other bakery and pastry products, pasta, beef, lamb and goat, poultry, meat preparations, fresh fish, yoghurt, cheese, olive oil, other edible oils, fresh fruit, fresh vegetables, preserved or processed vegetables, potatoes, chocolate and chocolate products, other foodstuffs, coffee, fruit juices.

Part of this increase was compensated by a reduction in prices mainly for: pork, sausages.

- 7,0% in the Clothing and footwear group, due to rising prices of clothing and footwear.

• 22,6% in the Housing group, mainly due to rising prices of: residential rents, electricity, natural gas, heating oil.

- 3,0% in group Durable goods-Household goods and services, mainly due to price increases in: furniture and decorative articles, household textiles, glassware and tableware, household utensils, household consumer durables, household services.

• 11,1% in the Transport group, mainly due to the increase in prices of: new cars, used cars, fuel and lubricants, airline passenger tickets.

• 0,9% in the Education group, mainly due to an increase in secondary school fees.

• 1,6% in the Hotels-Cafés-Restaurants group, mainly due to price increases in: restaurants-cafes-cafeterias, hotels-motels-pubs.

• 0,4% in the group Other goods and services, mainly due to rising prices of other personal care items.

Part of this increase was offset by a decrease mainly in vehicle insurance premiums.

From the reductions of the indicators by:

- 0.1% in the Health group, mainly due to lower prices of pharmaceutical products.
Part of this decrease was compensated by the increase in prices, mainly in dental services.

- 3,2% in the Communications group, mainly due to lower prices for telephone services.

• 0,5% in the group Recreation-Cultural activities, mainly due to a decrease in the prices of: audiovisual equipment, computers-repairs, durable leisure goods.

Part of this decrease was offset by an increase in prices, mainly in small recreational items-flowers-pets.