HELLENIC EPUBLIC HELLENIC STATISTICAL AUTHOITY Praeus, Aprl 27 PESS ELEASE CONSUME PICE INDEX: March 27, annual nflaton.7% The evoluton of the Consumer Prce Index (CPI) of March 27 (reference year 29=.) s depcted as follows: The CPI n March 27 compared wth March 26 ncreased by.7%. In March 26, the annual rate of of the CPI was -.5% (Table 2). The CPI n March 27 compared wth February 27, ncreased by.8%. In March 26, the monthly rate of of the CPI was.3% (Table ). In the twelve-month perod from Aprl 26 to March 27, compared wth the correspondng perod from Aprl 25 to March 26, the annual average rate of of the CPI was -.3%. The correspondng annual average rate of the CPI n the prevous year (Aprl 25 to March 26) was -.4% (Table 3). 6 5 4 3 2 - -2-3 Graph. Annual and annual average rates of (%) of CPI -4 4 7 4 7 4 7 4 7 4 7 4 7 4 7 4 7 4 7 4 7 27 28 29 2 2 22 23 24 25 26 27 CPI annual rates of CPI annual average rates of Economc and Short-Term Indces Dvson etal Prces and Prce Indces Secton Argro Kourtak, Anastasos Koutelas Tel: 23 35 2722, 23 35 279 Fax: 23 35 2724 Emal: cp@statstcs.gr
Man groups of goods and servces Table. Monthly rates of of CPI (eference year: 29=.) Weghts HBS 25 ( ) 27 27 ate of 26 26 ate of March February % March February. Food & non-alcoholc Beverages 26.7 6.6 6.28 -.2 4.43 4.83 -.4 2. Alcoholc Beverages & Tobacco 4.68 38.2 38.5. 34.4 34.86 -.3 % 3. Clothng and Footwear 64.54 95.24 72.4 3.5 95.5 77.6 22.6 4. Housng 33.54 2.8 2.96 -. 6.59 6.8.4 5. Household Equpment 46.46 9.27 9.25. 94.43 92.29 2.3 6. Health 77.2 96.74 96.84 -. 99.43 99.5 -. 7. Transport 44.9 2.64 8.62 2.5.99.8. 8. Communcaton 4.86.47.49. 98.39 98.39. 9. ecreaton and Culture 4.7 9.42 9.45. 9.52 9.64 -.. Educaton 32.79 89.3 89.3. 89.27 89.27.. Hotels Cafés & estaurants 2.82 6.43 6.35. 4.69 4.67. 2. Mscellaneous Goods & Servces 67.36 94. 94.. 96. 95.28.8 Overall Index. 6.33 4.46.8 4.5 3.2.3 Note: The ndces are rounded up to two decmal fgures when publshed and percentage s up to one decmal fgure when publshed. Graph 2. Annual and monthly rates of (%) of CPI 3 2 - -2 -.3 2.3.5 -.8.6 2. -.9-.9 -.5 -.4 -.6 2.4.5 -.8.6 -.3 -.4.8 -. -.8. -.9 -.4.3.7 -.4.8 -.6 -.3.8.4. -.8 -.3.8-3 -4 2 3 4 5 6 7 8 9 2 2 3 4 5 6 7 8 9 2 2 3 4 5 6 7 8 9 2 2 3 24 25 26 27 CPI monthly rates of CPI annual rates of 2
Table 2. Inflaton - Annual rates of of CPI (eference year: 29=.) Ι: March 27/26 March ate of Effect Man groups of goods and servces 27 26 (%). Food and non Alcoholc Beverages 6.6 4.43.6.329 2. Alcoholc Beverages and Tobacco 38.2 34.4 2.8.54 3. Clothng and Footwear 95.24 95.5..54 4. Housng 2.8 6.59 3.6.5383 5. Household Equpment 9.27 94.43-3.3 -.45 6. Health 96.74 99.43-2.7 -.984 7. Transport 2.64.99 8.6.333 8. Communcaton.47 98.39 2..832 9. ecreaton and Culture 9.42 9.52 -.433. Educaton 89.3 89.27 -.3 -.73. Hotels Cafés and estaurants 6.43 4.69.7.7 2. Mscellaneous Goods and Servces 94. 96. -2. -.227 Overall Index 6.33 4.5.7 ΙΙ: March 26/25 March ate of Effect Man groups of goods and servces 26 25 (%). Food and non Alcoholc Beverages 4.43 4.82 -.4 -.85 2. Alcoholc Beverages and Tobacco 34.4 32.93..596 3. Clothng and Footwear 95.5.42-5.2 -.324 4. Housng 6.59 22.62-4.9 -.735 5. Household Equpment 94.43 95.6 -.56 6. Health 99.43 96. 3.6.244 7. Transport.99 7.77-4.9 -.6673 8. Communcaton 98.39 98.42. -.3 9. ecreaton and Culture 9.52 93.35-2. -.77. Educaton 89.27 9.4 -.3 -.36. Hotels Cafés and estaurants 4.69 2.2 2.6.265 2. Mscellaneous Goods and Servces 96. 98.58-2.6 -.77 Overall Index 4.5 6. -.5 Note: The ndces are rounded up to two decmal fgures when publshed and percentage s up to one decmal fgure when publshed. 3
Table 3. Comparsons of the overall CPI (eference year: 29=.) Year and month Overall Index Monthly rates of % Annual rates of Inflaton % Annual average ndex (movng average) Annual average rates of % 24: 7.37 -.5 8.68 -. 2 5.94 -.3 -. 8.58 3 8.42 2.3 -.3 8.45 -.3 4 8.92.5 -.3 8.33 -.3 5 8.5 -.8-2. 8.5 -.4 6 8.75.6 -. 8.5 -.5 7 7.4 -.7 7.99 -.5 8 6.9 -.3 7.96 -.4 9 8.29 2. -.8 7.88 -.4 7.3 -.9 -.7 7.73 -.4 6.3 -.9 7.62 2 5.79 -.5-2.6 7.38 -.3 Annual average 7.38 - - 7.38 -.3 25: 4.32 -.4-2.8 7.3 -.4 2 3.65 -.6-2.2 6.94 -.5 3 6. 2.4-2. 6.75 -.6 4 6.63.5-2. 6.56 -.6 5 5.73 -.8-2. 6.36 -.7 6 6.4.6-2.2 6.7 -.7 7 5. -.3-2.2 5.97 -.9 8 4.54 -.4 -.5 5.84-2. 9 6.42.8 -.7 5.68-2. 6.32 -. -.9 5.6-2. 5.5 -.8 -.7 5.54 -.9 2 5.6. -.2 5.52 -.7 Annual average 5.52 - - 5.52 -.7 26: 3.56 -.9 -.7 5.46 -.6 2 3.2 -.4 -.5 5.4 -.4 3 4.5.3 -.5 5.28 -.4 4 5.28.7 -.3 5.7 -.3 5 4.8 -.4 -.9 5.9 6 5.65.8 -.7 5.3 -. 7 3.9 -.6 -. 4.94 -. 8 3.55 -.3 -.9 4.85 -.9 9 5.39.8 -. 4.77 -.9 5.8.4 -.5 4.73 -.8 4.57 -.9 4.65 -.8 2 5.64.. 4.65 -.8 Annual average 4.65 - - 4.65 -.8 27: 4.76 -.8.2 4.75 -.7 2 4.46 -.3.3 4.86 -.5 3 6.33.8.7 5. -.3 Note: The ndces are rounded up to two decmal fgures when publshed and percentage s up to one decmal fgure when publshed. 4
3 Graph 3. Monthly rates of (%) of the overall CPI, 26 and 27 2.8.8.3.7.8.4. - -.8 -.4 -.3 -.4 -.3 26 27-2 -.9 -.6-3 2 3 4 5 6 7 8 9 2 Months 3 Graph 4. Annual rates of (%) of the overall CPI, 26 and 27 2.2.3.7 - -.7 -.5 -.9 -.7 -. -.9 -. -.5 -.9. 26/25 27/26-2 -.5 -.3-3 2 3 4 5 6 7 8 9 2 Months 5
Graph 5. Monthly rates of (%) of CPI between March 27 and February 27 Food and non-alcoholc beverages Alcoholc beverages and tobacco Clothng and footwear Housng Household equpment Health Transport Communcaton ecreaton - Cultural actvtes Educaton Hotels - Cafes - estaurants Mscellaneous goods and servces Overall Index -.2 -. -... 2.5......8 3.5 - -5 5 5 2 25 3 35 4 Graph 6. Annual rates of (%) of CPI between March 27 and March 26 Food and non-alcoholc beverages Alcoholc beverages and tobacco.6 2.8 Clothng and footwear Housng. 3.6 Household equpment Health Transport Communcaton -3.3-2.7 2. 8.6 ecreaton - Cultural actvtes Educaton Hotels - Cafes - estaurants Mscellaneous goods and servces Overall Index -2. -.3.7.7 - -8-6 -4-2 2 4 6 8 6
Graph 7. CPI hghest annual ncreases (%) 45 4 35 32.9 3 25 27.3 26.8 2 5 4.9 4.9 5 Heatng ol Natural gas Passenger transport by ar Fuels and lubrcants Fresh frut Graph 8. CPI hghest annual decreases (%) - -2-3 -4-5 -6-7 -8-6.9-5.9-5.8-5. -9 - -8.8 Household textles Paramedcal servces Phamaceutcal products Major household applances electrc or not Motorcars 7
966 97 976 98 986 99 996 2 26 2 26 Graph 9. Hstorcal evoluton of CPI, 966-27 4 35 3 25 2 5 5-5 Annual average rate (%) Annual rate - Inflaton (%) 8
METHODOLOGICAL NOTES Generally Purpose of the ndex The Consumer Prce Index (CPI) s compled by the Hellenc Statstcal Authorty (ELSTAT) snce 959. Untl the year 2, the CPI referred to the urban areas of the country, whle from 2 onwards t refers to the whole country coverng urban, sem urban and rural areas. The purpose of the CPI s to measure the general level of prces of goods and servces purchased by the average Greek household. Legal bass Law 3832/2. eference perod Base Month. December of the prevous year. eference year 29=.. Chan lnkng Index Geographcal and populaton coverage of the CPI Τhe CPI ndex follows the chan lnkng method, ntroducng new weghts annually and havng as a base December of the prevous year. The weghts are estmated on the bass of the most recent avalable data of the Household Budget Survey (HBS), extrapolated to the prces of December. The CPI, adjusted on an annual bass to the most recent consumpton expendture pattern of the prvate households of the country, ensures the representatveness of goods and servces, whch compose the basket of purchases of the average household. The CPI refers to the whole country and covers the resdent households of the terrtory excludng collectve households (hosptals, homes for the elderly, boardng houses, prsons, etc.) and non-resdent households (toursts) n the country. Classfcaton of tems Weghts of tems The classfcaton of the CPI tems (goods and servces) s based on the nternatonal classfcaton COICOP (Classfcaton of Indvdual consumpton by Purpose) as ths has been adapted to the needs of the HICPs of the EU Member States wth the COICOP5/HICP classfcaton. The weghts of CPI tems are updated every year, on the bass of the most recent avalable data of HBS. The weghts are calculated as the share ( ) of the expendtures for each group, subgroup and tem (good or servce) to the total household expendture of the average household. Prce collecton Ctes The CPI prces are collected n 27 ctes wth representatve markets for the coverage of the 3 egons of the country. The selecton crtera of the prce collecton ctes are the sze and the partculartes of ther markets, the possblty of contnuous prce collecton, the comparablty of the ndex and the cost of prce collecton. Populaton weghts The calculaton of the populaton weghts by regons s based on the populaton data of the 2 General Populaton Census and the expendture data of the latest avalable HBS by regons. Selecton of tems Prce collecton-outlets Specfcaton- Substtuton of tems The composton of the "household basket".e. the selecton of goods and servces whch are ncluded n the calculaton of CPI s updated annually, usng the results of the latest avalable HBS, other market research, etc. The chan lnkng methodology allows the of tems of the household basket on an annual bass, n order to ensure the representatveness of the tems nvolved n the calculaton of groups and subgroups of CPI. The prces collecton outlets are retal stores, enterprses provdng servces, street markets etc. whch are consdered representatve of the branches of shops, where the households make ther purchases n the 27 selected ctes. The methodology allows the renewal of prce collecton sources, annually, n order to mantan ther representatveness n the calculaton of CPI. Prces are collected by employees of ELSTAT as well as by external prce collectors, hred on a temporary bass. They pay a vst to the selected outlets wthn a specfc tme perod of a month (monthly prces) or on a specfc day of the week (weekly prces). The collected prces correspond to the prces actually faced by the consumer. All the collected tems are defned by the specfcaton, that s the partcular characterstcs whch determne the qualty, the trade show and the dentty, n general, of good products (such as brand, weght, package etc), n order to avod any prce varatons attrbutable to dfferences n the specfcaton. Once a specfed tem (good or servce) s no longer avalable n the market or has ceased to be mportant, as regards consumpton, t s substtuted by a newly specfed tem, whch has taken ts place n the market. 9
Calculaton of the Consumer Prce Index The Consumer Prce Index s a Laspeyres-type ndex and t s calculated based on December of the prevous year. Implementaton of formula n fve-dgt level of COICOP5 Specfcally, f the fve-dgt tem h ncludes q prce collected tems, then ts ndex n month t of year Τ, by the followng formula: t,t h, s gven q T t,t 2,T w t,t 2,T h h, q T w where: 2,T h T = the ndex of the fve-dgt tem h, n December of year Τ-. w = the weght of the prce collected tem I, n year T. t,t = the ndex of the prce collected tem I, n month t of year T. 2,T = the ndex of the prce collected tem I, n December of year T-. A smlar methodology s followed for the calculaton of ndces n the upper levels (two-dgt, three-dgt and fourdgt) of COICOP5 and the calculaton of the overall CPI as well. Publcaton of data eferences The publshed CPI tme seres (reference year 29=.), covers the perod from January 959 onwards. The CPI data are released each month as scheduled, n accordance wth the Press eleases Calendar of ELSTAT, wth the Press elease and the tables. Further nformaton concernng the methodology and the complaton of the CPI s avalable n the Methodologcal Publcaton CPI (29=.) and the Sngle Integrated Metadata Structure (SIMS).