The increase in the price of olive oil stands out once again
Its rate of rise slowed significantly inflation in October this year, as it rose 2.4% from 2.9% in September and against 3.4% in October last year.
Despite the fact that food price increases overall were limited to one year (1.5%), the increase in the price of olive oil stands out once again by 18.1% (however, compared to September, a 3% price decrease was recorded). There were also significant price increases in, among others, fresh fish (8.5%), nuts (5.5%), mineral water and soft drinks (5.2%), clothing and footwear (5%), rents (6, 5%), electricity (12.9%), natural gas (10.2%), pharmaceuticals (4.6%), hospital care (4%), air passenger transportation (25.6%), package holidays (7.4%), hotels (16.9%), restaurants-patisseries-cafes (5.6%), vehicle insurance premiums (5.6%) and health insurance premiums (14%).
Whereas, between October and September price increases continued in beef (2%), pork (1.4%), fresh vegetables (2.4%), clothing and footwear (1.2%), rent (1.4%), electricity (1.6 %) and fuel (1.7%).
According to ELSTAT, the increase in the general consumer price index in October came mainly from the changes in the following groups of goods and services:
1. From the increases of the indicators by:
*1.5% in the “Food and non-alcoholic beverages” group, due to price increases mainly in: bread, meats (in general), fresh fish, olive oil, dried fruits and nuts, vegetables (in general), sugar – chocolates – sweets – ice creams, mineral water – soft drinks – fruit juices. Part of this increase was offset by the decrease in prices mainly in: flour and other cereals, pizzas and pies, pasta, dairy and eggs, other edible oils, fresh fruit, coffee.
*1.2% in the “Alcoholic beverages and tobacco” group, due mainly to an increase in prices of alcoholic beverages (not served).
*5% in the “Clothing and footwear” group, due to price increases in clothing and footwear.
*3% in the “Housing” group, due to price increases mainly in: house rents, house repair and maintenance, electricity, natural gas. Part of this increase was compensated by the decrease in prices mainly in: heating oil, solid fuels.
*3.6% in the “Health” group, due to price increases mainly in: pharmaceutical products, medical products, medical, dental and paramedical services, hospital care.
*0.4% in the “Transport” group, due to price increases mainly in: new cars, car parts and accessories, maintenance and repair of personal transport equipment, air passenger tickets. Part of this increase was offset by the decrease in prices mainly in: used cars, fuel and lubricants.
*1.3% in the “Communications” group, mainly due to an increase in the prices of telephone services.
*1.5% in the “Recreation-Cultural activities” group, due to price increases mainly in: information processing equipment, small leisure items – flowers – pets, entertainment and cultural services, newspapers – books and stationery, package holidays. Part of this increase was offset by a decrease in prices mainly in: audio and video processing equipment, leisure and cultural durables.
*2.8% in the “Education” group, mainly due to price increases in: preschool and primary education fees, secondary education fees
*6.1% in the “Hotels-Cafes-Restaurants” group, mainly due to an increase in prices in restaurants-pastry shops-cafes-canteens, hotels-motels-inns.
*2.3% in the “Other goods and services” group, mainly due to price increases in: hair salons and personal care stores, other personal items, health insurance premiums, vehicle insurance premiums. Part of this increase was offset by the decrease in prices mainly in other types of personal care.
2. From the reductions of the indicators by:
*0.4% in the “Durable goods – Household items and services” group, due to a decrease in prices mainly in items of immediate household consumption. Part of this decrease was offset by the increase in prices mainly in: furniture and decorative items, household services.
At the same time, the general index showed no change in October compared to September 2024, while in the corresponding comparison of the previous year there was an increase of 0.6%.
As for harmonized inflation, it showed an increase of 3.1% in October this year, compared to an increase of 3.8% recorded in 2023. In a monthly comparison, the harmonized index showed an increase of 0.1% compared to an increase of 0.1% that was also recorded in the corresponding comparison of the previous year.
