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CPI moderates to 3 pct, but food inflation persists at 11.4 pct
EconomyMacroeconomyThe rise in Greece’s Consumer Price Index (CPI) decelerated further in April, with prices rising by 3 percent year-on-year (YoY), when it increased by 4.6 percent in March, according to the data released on Wednesday by the Hellenic Statistical Authority (ELSTAT). The average CPI for the rolling
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Newsletter 380 - 12/05/2023
this narrative. SYRIZA has traditionally had an aversion to engaging in data-based discussions
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Growth in car sales slows to 1.1 pct in April
EconomyMacroeconomyRoad motor vehicles going into circulation for the first time slowed down considerably in April, growing by 1.1 percent year-on-year (YoY), after rising strongly in March by 31.3 percent, according to Hellenic Statistical Authority (ELSTAT) data released on Friday. In April 2022, the year-on-year
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Import prices fall sharply by 12.7 pct in Mar, as energy drops by 28.4 pct
EconomyMacroeconomyThe contraction of Greece’s import price index accelerated in March, falling by 12.7 percent year-on-year (YoY), after dropping by 5.6 percent in February, according to data released by the Hellenic Statistical Authority (ELSTAT) on Monday. February’s reading was the first negative print since
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Budget primary surplus of 2.43 bln in April thanks to 1.64 bln tax outperformance
EconomyMacroeconomyThe budget primary balance came to a surplus of 2.34 billion euros in April, compared to a deficit of 799 million euros in the same period of 2022, according to the preliminary Finance Ministry (MoF) budget execution data released on Monday. In the first four months of the year, the budget
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Jobs in hotels, hospitality push April hirings balance to near-record level
EconomyMacroeconomyGreece’s employment balance in April was positive by 123,079 more hires than departures, according to data from the Labour Ministry’s Ergani information system. The hiring balance in April last year was 124,365 more hires, an all-time April record, suggesting a minor drop of 1,286 jobs. Total
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Current account deficit widens to 2.4 bln in Mar, oil deficit more than doubles
EconomyMacroeconomyGreece’s current deficit in March widened to 2.4 billion euros, from a deficit of 1.32 billion euros in February, Bank of Greece (BoG) data showed on Monday. In March 2022, the balance showed a deficit of 2.53 billion euros, while in March 2021 the current account posted a deficit of 1.49 billion
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Travel surplus continues to grow in March, up 55 pct YoY in Q1
EconomyMacroeconomyGreece’s travel balance recorded a surplus of 100.2 million euros in March, from 106.8 million euros in February, according to Bank of Greece (BoG) data released on Tuesday. March’s balance was 95.5 percent higher than the 51.2 million euros registered in March 2022. Higher than the 8.3 million
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VAT and income taxes drive revenue and budget outperformance in April
EconomyMacroeconomyThe budget primary balance in April was confirmed to be a surplus of 2.44 billion euros, compared to a deficit of 799 million euros in the same month of 2022, according to the final Finance Ministry (MoF) budget execution data released on Thursday. In the first four months of the year, the budget
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Building activity down 15.2 pct in Feb for sharpest drop since 2020
EconomyMacroeconomyAfter a solid start for 2023, building permits recorded a contraction of 15.2 percent year-on-year (YoY) in February, after a rise of 22.1 percent in January, according to the data released by the Hellenic Statistical Agency (ELSTAT) on Friday. This is the first negative reading since July 2022
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