Greece Producer Price Index Jumps to 11.8% in July as Industrial Costs Surge

BitcoinWorld Greece Producer Price Index Jumps to 11.8% in July as Industrial Costs Surge Greece’s Producer Price Index (PPI) rose 11.8% year-on-year in July, accelerating from a revised 8.8% increase in June, according to the latest data released by the Hellenic Statistical Authority (ELSTAT).

This marks the highest annual rate since at least early 2023, reflecting intensifying cost pressures across Greek industries. What is driving the surge in Greek producer prices?

The sharp acceleration in the PPI is largely attributed to rising energy costs and higher prices for intermediate goods. Energy prices, a major component of the index, have been climbing due to global supply disruptions and increased demand.

Additionally, raw material costs, particularly in metals and chemicals, have pushed up producer prices in manufacturing sectors. Domestically, the increase is broad-based, with notable gains in the production of basic metals, food products, and refined petroleum.