Inflation slowed to 2.9% in February – New “jump” in olive oil

Slowing at a rate of 2.9% from 3.1% last month recorded either in February, according to her report on Friday (8.3.2024), with food however continuing their rally and olive oil once again holding the primary. The increase in the prices of the general inflation rate of February 2024 to the corresponding index of February 2023 is compared with a 6.1% increase in the corresponding comparison of the year 2023 to 2022 as shown by the ElSTAT data. On a monthly basis, the General IMF in February 2024, compared to January 2024, increased 0.1%, compared with a 0.3% increase in the previous year’s comparison. The annual changes in the general index resulted from increases in indicators by: 6.7% in the food group and non-alcoholic beverages, due to increases in prices in: bread and cereals, meat (general), fish (general), olive oil, fruit (general), vegetables (general), sugar-chocolates-sweets, other foods, coffee-cao-tea, mineral water-drinks-fruit juices. Part of this increase was offset by the reduction in milk and eggs prices. 2.4% in the group of alcoholic beverages and tobacco, due mainly to an increase in alcohol prices (not served). 1.3% in the clothing and footwear group, due to price increases in clothing and footwear. 1.6% in the group permanent goods – household items and services, due to increased prices in: furniture and decorations, direct household consumption, household services. 3.5% in the health group, due to increased prices in: pharmaceutical products, medical-dentals and paramedical services, hospital care. Part of this increase was offset by the decrease in prices in medical products. 0.5% in the transport group, due to increased prices in: new cars, used cars, car parts and accessories, maintenance and repair of personal transport equipment. Part of this increase was offset by the decrease in fuel and lubricant prices, passenger by plane tickets. 2.9% in the leisure group – cultural activities, due to increased prices in: information processing equipment, small recreational items – flowers – pets, cinemas – theatres, holiday packages. 3.5% in the education group, due to increased prices in: pre-school and primary education tuition, secondary education tuition, higher education tuition. 6.5% in the group hotels – cafes – restaurants, due to increased prices in: restaurants – pastry shops – cafes, hotels – motels – inns. 1.7% in the group Other goods and services, due to increased prices in: hair salons and personal care shops, health insurance, vehicle insurance. Part of this increase was offset by price reductions in other types of individual care. On the other hand, from the decreases in indicators by: 0.3% in the housing group, due to a decrease in prices in: electricity, natural gas. Part of this reduction was offset by the increase in prices mainly in: housing rentals, repair and maintenance of dwellings, heating oil, solid fuels. 1.9% in the communications group, due to lower prices in telephone services. New food revaluations For another month, food experienced significant increases in the continuity of the previous period. Olive oil was “extruded” by 63.7%. The mineral water-drinking-fruit juices also increased by 13.8%, while fruit by 12.3%. Prices in fish increased by 9.9%, vegetables by 6.5%, sugar and chocolate products by 5.8% while other foods increased by 6.5%. With the exception of food, significant increases also occurred in heating oil, 9.9%, on the opposite side of the natural gas which “sink” by 52%. Major increases were also noted in life insurance premiums by 14% while the holiday package was 8.7% accurate.

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