Greek Inflation Is Up To 4% in June

Rises in food and energy costs pushed up inflation in the 15-nation eurozone to 4% in June from 3.7% in May. Eurostat said a 16% year-on-year rise in energy costs as oil prices headed above $140 a barrel was to blame. The European Central Bank (ECB) raised interest rates to 4.25% at the start of the month to try to contain inflation.

Further interest rate rises are expected before the end of the year.

Meanwhile, Finance Minister Yiorgos Alogoskoufis urged for a joint effort to boost Greek exports.

Addressing a National Export Council meeting on Wednesday, mr Alogoskoufis said the government has offered solutions to many of exporting enterprises' problems and urged representatives of the sector to a closer cooperation.


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