Preliminary data show Europe having two speeds in regard to the course of Inflation in March, where Greece appears as the 2nd country with the highest rise in the Price Index within a month, compared to February.
In the whole Eurozone, ‘European’ inflation (harmonized Consumer Price Index) increased by 0.8% on a monthly basis in March, while in Greece, it increased at a double rate 1.8%!
Although premature, as data on ‘national’ inflation will be announced by the Hellenic Statistical Authority next Wednesday, April 10, ‘blame’ may be attributed in the prices hike in services and perhaps secondarily in food, even though Energy prices have declined everywhere else in Europe. In this direction, the State Budget Office at the Parliament also made recommendations to reconsider and reassess the framework of measures for price increases in food and household items.
Nevertheless, there seems to be a general problem in all countries of the European South, and will continue month after month for some time.
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According to Eurostat data:
- – Greece had an inflation increase on a monthly basis by 1.8%.
- – Portugal was the first with the highest monthly increase among all Eurozone countries, with a 2.3% increase within a month.
- – All countries where the increase in the Price Index in March exceeded 1% were Southern countries (Spain 1.3%, Italy 1.2%, Malta 1.1%), with the sole exception of Latvia, where it increased by 1.2%.
- – Conversely, Northern European countries experienced minimal inflation or even a decrease in inflation in March: Germany, the Netherlands, Austria +0.6%, France +0.3%, Finland, and Slovakia 0%.