Greece's inflation hit 29-year record in May

Athens: Greece's annual inflation rate jumped to 11.3 per cent in May this year, reaching a 29-year record for the country.

The increase is linked to a large extent to the rise in energy costs over the past year, the Hellenic Statistical Authority (ELSTAT) said on Thursday.

Natural gas prices increased by 172.7 per cent compared to a year ago, electricity prices by 80.2 per cent and heating oil by 65.1 per cent, Xinhua news agency reported.

A 35 per cent hike was reported in costs of housing, 18.8 per cent in transportation and 12.1 per cent in food and non-alcoholic beverages, according to ELSTAT's data.