Greece industrial producer prices surge 20.4% in September

According to data from the Hellenic Statistical Authority (ELSTAT), Greece experienced a significant surge in industrial producer prices in September. The General Producer Price Index for industry rose by 20.4% on an annual basis, a sharp reversal from the 1.1% decrease recorded during the same period in the previous year. On a monthly basis, the index increased by 5.1% compared to August.

This inflationary pressure was driven largely by the energy sector, which saw a 41.2% annual increase. Specifically, the production of coal and petroleum refining products saw massive jumps, with prices rising 93% in the external market and 81.7% in the domestic market. Other contributing sectors included basic metals, which rose 25.1% in the external market, and electrical equipment, which saw increases of approximately 17% in both markets.

In a separate economic report for August, ELSTAT also noted an 8.2% annual increase in retail trade turnover. This growth was led by fuels and lubricants, which saw a 21.7% rise in turnover, alongside increases in large food stores and the furniture and electrical goods sector.