“Inflation in December 2023 dropped to 7.6%, as announced yesterday by the Republic Statistical Office. Specifically, consumer prices in December 2023 increased by that percentage compared to the same month of the previous year. On a monthly basis, there was almost no price increase, as the prices of goods and services for personal consumption in December 2023, compared to November 2023, were on average higher by 0.1%. In 2023, compared to 2022, consumer prices increased on average by 12.1%.
Looking at what increased the most from December of the previous year to December 2022, it can be seen that the general rise is no longer due to high food prices that were previously the main drivers of higher prices. In other words, that inflationary effect has statistically exited the calculation and does not “burden” the statistical data on the retail price increase. Therefore, energy prices have taken over the surge, and they actually have the highest prices compared to December 2022.”
“Food is 8.4% more expensive compared to the mentioned December, while household electricity is 23.2% more expensive, gas 31.3% more expensive, and district heating 14.4% more expensive. There was also a decrease, specifically in solid fuels, by 7.5%. Medical services, for example, became 17.7% more expensive in one year, and dental services by 14.7%.
When observed by major groups of products and services classified by purpose of consumption, in December 2023, compared to the previous month, price increases were recorded in the groups of recreation and culture (1.2%), home equipment and maintenance by one percent, clothing and footwear (0.9%), health (0.5%), communications (0.3%), in the groups of food and non-alcoholic beverages, alcoholic beverages and tobacco, and restaurants and hotels by 0.2% each, and housing, water, electricity, gas, and other fuels by 0.1%.
A decrease in prices was recorded in transportation, down by 1.6%. Prices of other products and services did not change significantly.”
Official statistics announced yesterday also revealed the indices of prices for agriculture and fisheries products in November 2023, compared to the same month in 2022. They decreased by 24.5%.
When observed by major product groups, compared to the same month of the previous year, the most significant impact on the price drop was recorded for cereals, down by 51.3%, and industrial plants, down by 13%
In November 2023, compared to October of the same year, the average prices of agriculture and fisheries products increased by 3.5%.
When observed by major product groups, compared to the previous month, the most significant impact on price growth was recorded in the groups of cereals (4.5%) and industrial plants (3.6%).
Producer prices for agriculture and fisheries products in the period from January to November 2023, compared to the same period in 2022, decreased on average by 7.6%.
When observed by major product groups, in the period from January to November 2023, compared to the same period in 2022, the most significant impact on the price decline was recorded in the groups of cereals, down by 25.7%, and industrial plants, down by 22.2%.”
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