Greece braces for major inflation shock as Middle East standoff continues

EconomyMacroeconomy Tags: Cost of living, CPI, Energy, Iran
Photo by Natasha Pantazopoulo/Fosphotos
Photo by Natasha Pantazopoulo/Fosphotos

With the war in Iran far from settled and the main choke point for global energy and trade still in place - as the Strait of Hormuz remains essentially shut - newly released data points to a severe inflation shock for the Greek economy.

The import price index jumped by 11.4% in March, after being negative for five consecutive months and with only two positive readings since January last year.

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