Greece's consumer prices rose 0.8 percent from a year earlier in December of 2019, following a 0.2 percent increase in the previous month and above market forecasts of a 0.7 percent rise. It was the highest inflation rate since April, as cost rebounded for food & non-alcoholic beverages (0.3 percent vs -0.5 percent in November); clothing & footwear (0.5 percent vs -0.3 percent). In addition, housing prices came flat after decreasing 1.3 percent in November while for transport cost advanced faster (3.5 percent vs 2.2 percent). On the other hand, prices continued to fall for household equipment (-1.3 percent vs -0.7 percent) and recreation & culture (-2.0 percent vs -1.7 percent) while inflation was steady for health (at 1.9 percent). On a monthly basis, consumer prices increased 0.7 percent, after a 0.6 percent fall in the prior month.

Inflation Rate in Greece averaged 8.22 percent from 1960 until 2019, reaching an all time high of 33.70 percent in January of 1974 and a record low of -2.90 percent in November of 2013. This page provides the latest reported value for - Greece Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Inflation Rate in Greece is expected to be 0.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Greece to stand at 0.90 in 12 months time. In the long-term, the Greece Inflation Rate is projected to trend around 1.00 percent in 2020, according to our econometric models.


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Greece Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.80 0.20 33.70 -2.90 1960 - 2019 percent Monthly
2009=100, NSA

Calendar GMT Actual Previous Consensus TEForecast
2019-10-10 09:00 AM Sep -0.1% -0.2% -0.3% -0.2%
2019-11-08 10:00 AM Oct -0.7% -0.1% -0.3% -0.3%
2019-12-10 10:00 AM Nov 0.2% -0.7% -0.3% -0.8%
2020-01-13 10:00 AM Dec 0.8% 0.2% 0.7% 0.5%
2020-02-14 10:00 AM Jan 0.8%


News Stream
2019-12-10
Greek Inflation Rate at 6-Month High in November
Greece's consumer prices rose 0.2 percent from a year earlier in November 2019, after a 0.7 percent fall in the previous month and above market forecasts of a 0.3 percent decline. It was the highest inflation rate since May, as prices rebounded for transport (2.2 percent from -0.2 percent in October) and miscellaneous goods & services (0.7 percent from -1.3 percent). Also, cost of health advanced further (1.9 percent from 1.8 percent). Additionally, prices fell less for food & non-alcoholic beverages (-0.5 percent from -1.6 percent); housing (-1.8 percent from -2.4 percent); clothing & footwear (-0.3 percent from -0.5 percent); household equipment (-0.7 percent from -2.4 percent); recreation & culture (-1.7 percent from -1.9 percent). Meantime, inflation was steady for education (at 0.6 percent). On a monthly basis, consumer prices dropped 0.6 percent, following a 0.8 percent gain in the prior month.

2019-11-08
Greek Consumer Prices Fall the Most since 2016
Greece's consumer prices went down 0.7 percent from a year earlier in October 2019, faster than a 0.1 percent drop in the previous month and market forecasts of a 0.3 percent fall. It was the steepest decline in consumer prices since November 2016. Prices fell for food & non-alcoholic beverages (-1.6 percent vs -2.1 percent in September); housing (-2.4 percent vs 0.8 percent); transport (-0.2 percent vs 1 percent); clothing & footwear (-0.5 percent, after being flat in September); household equipment (-2.4 percent vs -2.3 percent); recreation & culture (-1.9 percent vs -1.7 percent) and miscellaneous goods & services (-1.3 percent vs -0.3 percent). Meanwhile, inflation was steady for health (at 1.8 percent) and cost rebounded for education (0.6 percent vs -0.2 percent). On a monthly basis, consumer prices went up 0.8 percent, easing from a 2.1 percent rise in the previous month.

2019-10-10
Greek Deflation Eases to 0.1% in September
Greece's consumer prices fell 0.1 percent from a year earlier in September 2019, after declining 0.2 percent in the previous month and compared with market consensus of a 0.3 percent decrease. Cost of miscellaneous goods and services went down at a slower pace (-0.3 percent compared to -0.8 percent in August) and prices of recreation and culture continued to fall (-1.7 percent, the same as in August). In addition, cost of housing rebounded (0.8 percent compared to -0.8 percent). On the other hand, prices dropped further for food and non alcoholic beverages (-2.1 percent compared to -1.9 percent); and household equipment (-2.3 percent compared to -1.6 percent). Also, transport inflation slowed to 1 percent from 1.8 percent in the prior month. On a monthly basis, consumer prices advanced 2.1 percent, rebounding from a 0.5 percent fall in August.

2019-09-10
Greece Slides Back into Deflation
Greece's consumer prices dropped 0.2 percent from a year earlier in August 2019, after being unchanged in the previous month, with main downward pressure coming from food and non alcoholic beverages (-1.9 percent vs -1.4 percent in July); housing (-0.8 percent vs -0.9 percent); recreation and culture (-1.7 percent, the same as in July); household equipment (-1.6 percent vs -2.1 percent); and miscellaneous goods and services (-0.8 percent vs -1.7 percent). In addition, transport inflation eased to 1.8 percent from 2.5 percent. On a monthly basis, consumer prices fell 0.5 percent in August, after a 1.5 percent slump in July.

2019-08-08
Greek Consumer Prices Unchanged in July
Consumer prices in Greece showed no growth from a year earlier in July of 2019, after falling 0.3% in the previous month. The largest upward contribution to the CPI came from transport (2.5% from 0.1% in June), mainly tickets for passenger transport by air; hotels, cafes & restaurants (0.4% from 0.6%), due to prices of restaurants-confectioneries-cafes-buffets and accommodation services; and clothing & footwear (0.3% from a flat reading). On the other hand, prices fell for food & non-alcoholic beverages (-1.4% from -1.1%), on the back of lower prices of bread & cereals, dried salted or smoked meat, yoghurt, cheese, oils & fats, fresh fruit, dried fruit & nuts, preserved or processed vegetables, sugar-chocolates-sweets-ice creams, other food, coffee-cocoa-tea, fruit juices; and housing (-0.9% from -0.7%), due to electricity and natural gas. On a monthly basis, consumer prices slumped 1.5%, down from a 0.5% gain in June.

2019-07-10
Greek Consumer Prices Post First Fall in 15 Months
Consumer prices in Greece decreased 0.3 percent year-on-year in June of 2019, following a 0.2 percent gain in the previous month. It was the first drop in consumer prices since March of 2018, as prices fell for food and non-alcoholic beverages (-1.1 percent vs 0.5 percent in May), mainly pork, lamb and goat, fish, fruit, vegetables and potatoes. Additionally, prices slowed for transport (0.1 percent vs 1.1 percent); hotels, cafes and restaurants (0.6 percent vs 0.7 percent) and clothing & footwear (a flat reading from 0.5 percent in May). On a monthly basis, consumer prices went up 0.5 percent, rebounding from a 1.1 percent drop in the prior month.


Greece Inflation Rate
In Greece, the most important categories in the consumer price index are: food and non-alcoholic beverages (17 percent of total weight); transport (13 percent); housing (12 percent) and hotels, cafés and restaurants (11 percent). The index also includes: clothing and footwear (9 percent); health (7 percent); furnishing and household equipment (7 percent); recreation and culture (5 percent); communication (5 percent). Education, alcoholic beverages, tobacco and other goods and services account for the remaining 14 percent of total weight.

Greece Prices Last Previous Highest Lowest Unit
Inflation Rate 0.80 0.20 33.70 -2.90 percent [+]
Consumer Price Index CPI 107.76 107.05 111.34 1.14 points [+]
Harmonised Consumer Prices 102.95 102.51 104.67 58.92 points [+]
Core Consumer Prices 99.60 100.40 105.30 96.90 points [+]
Core Inflation Rate 0.40 -0.10 3.13 -16.39 percent [+]
GDP Deflator 96.80 96.27 100.80 58.61 points [+]
Producer Prices 107.60 104.80 114.60 76.10 points [+]
Producer Prices Change 1.10 -4.60 15.57 -11.40 percent [+]
Import Prices 113.57 112.67 122.09 1.19 points [+]
Inflation Rate Mom 0.70 -0.60 5.98 -2.08 percent [+]
CPI Housing Utilities 120.49 120.01 134.22 63.28 points [+]
CPI Transportation 126.45 126.66 130.61 76.55 points [+]
Food Inflation 0.30 -0.50 12.85 -3.00 percent [+]