Greece’s annual inflation rate rose for the eighth consecutive month to 5.1 percent in December of 2021. It was the highest inflation rate since January of 2011 as prices advanced at a faster pace for housing & utilities (18 percent vs 17.7 percent) on account of higher charges of electricity (45 percent), heating oil (34.1 percent) and natural gas (135.7percent); food & non-alcoholic beverages (4.3 percent vs 3.5 percent); and transport (10.9 percent vs 9.3 percent) due to higher prices of fuel and lubricants (21.7 percent). Also, prices fell less for communication (-2.5 percent vs -2.7 percent). Meanwhile, downward pressure came from clothing and footwear (3 percent vs 3.9 percent); hotels, cafes and restaurants (1.2 percent vs 1.3 percent); recreation and culture (-0.6 percent vs -0.3 percent); and education (0.9 percent vs 1.3 percent). On a monthly basis, consumer prices increased 0.7 percent, accelerating from a 0.5 percent rise in the prior month. source: National Statistical Service of Greece
Inflation Rate in Greece averaged 7.95 percent from 1960 until 2021, 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. Greece Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2022.
Inflation Rate in Greece is expected to be 2.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Greece Inflation Rate is projected to trend around 0.80 percent in 2023, according to our econometric models.