AT 12.1% THE RATE IN JUNE 2022, JUST 0.03 THE IMPACT OF RENTED HOMES!

Nevertheless, the “Housing” group of ELSTAT reports an increase of 31.5%, for which the increase in rental houses is listed as the main culprit, while in fact the burden on this group comes from the increase in electricity (70.4%), heating oil (65.1%), natural gas (117.7%) and solid fuels (8.1%) !!! See the official data in the following detailed table for the month of June from ELSTAT:

As can be seen from ELSTAT’s data, the “jump” of 12.1% came mainly from the changes in the following groups of goods and services:
1. Of the increases in the indices by:
• 12.6% in the group Food and non-alcoholic beverages, due mainly to price increases in: bread and cereals, meats (general), fish (general), dairy and eggs, oils and fats, fresh fruit, vegetables (general), sugar-chocolate-sweets-ice cream, other foods, coffee-cocoa-tea, mineral water-soft drinks-fruit juices.
• 0.9% in the group Alcoholic beverages and tobacco, due to an increase in prices mainly in alcoholic beverages (not served).
• 4.6% in the group Clothing and footwear, due to an increase in prices in items clothing and footwear.
• 31.5% in the Housing group, mainly due to price increases in: house rents, home repair and maintenance items, electricity, natural gas, heating oil , solid fuels.
• 6.5% in the group Durable goods-Household goods and services, mainly due to price increases in: furniture and decorative items, household appliances and repairs, glassware-tableware and utensils household goods, immediate household consumption goods, household services.
• 0.6% in the Health group, mainly due to price increases in: medical products, medical, dental and paramedical services, hospitals and clinics. Part of this increase was offset by a decrease in prices mainly in pharmaceutical products.
• 25.0% in the Transportation group, due to an increase in prices mainly in: new cars, used cars, car parts and accessories, fuel and lubricants, maintenance and repair of personal transportation equipment, taxi passenger transportation, airplane passenger tickets, ferry passenger tickets.
• 1.7% in the Leisure-Cultural activities group, due mainly to price increases in: leisure durables and culture, small leisure items-flowers-pets, cinemas-theatres, stationery and design materials, holiday package. Part of this increase was offset by the decrease in prices mainly in: audio-visual equipment-computers-repairs, books.
• 0.9% in the Education group, due mainly to an increase in prices in secondary education fees.
• 6.5% in the Hotels-Cafes-Restaurants group, mainly due to an increase in prices in: restaurants-patisseries-cafes, hotels-motels-inns.
• 2.3% in the Other goods and services group, mainly due to an increase of prices in other types of personal care.
2. From the decrease in the index by:
• 2.3% in the Communications group, due to a decrease in prices mainly in: telephone equipment for mobile phones, telephone services.

MAY 2022.

• Another negative record noted the inflation in May 2022, with the General Price Index being increased by 11.3% compared to the corresponding month last year, as shown by ELSTAT data and the relevant announcement of his rents month of June, while it is estimated that next month it will rise to 12%. This was the reason for the relevant new legislative intervention, according to which the rent increase in professional leases for the whole year 2022 cannot exceed 3%.   

The main price changes from the comparison of the previous indices April 2022 with April 2021 were as follows: -align: justify;”>The Consumer Price Index (CPI) in April 2022 compared to the corresponding period of 2021 increased by 10.2%. The last year that recorded inflation above 10% was 1994.

Compared to March 2022 the CPI showed an increase of 2.1%

In other words in general the prices of goods/services in April 2022 compared to April 2021 increased by 10.2%. Accordingly, they increased by 2.1% in just one month (compared to March 2022)

Table 1 below shows the annual percentage changes in prices by group goods/services ordered from highest increase to highest decrease.

Table 1

Source: ELSTAT

Regarding the monthly changes (April 2022 – March 2022) the biggest increases were recorded:

• In clothing and footwear: 14.1%. Due to the return of prices to the levels before the winter sales
• In housing: 4%. Due to price increases mainly in: electricity, natural gas, heating oil
• In food and non-alcoholic beverages: 2.5%. Due mainly to price increases in: bread, beef, pork, lamb and goat, poultry, fresh whole milk, yogurt, cheese, eggs, oils and fats, fresh vegetables, frozen vegetables, coffee. Part of this increase was compensated by the decrease in prices mainly in: pasta, fresh fish.

Table 2 below shows the annual percentage changes in prices by good/service ordered from the largest increase to the largest decrease.

Table 2

It is absolutely clear that the contribution of house rents to the price increase (just 0.9%) is literally zero. This is for the information of those requesting rental measures in leases…