The annual inflation rate in Greece eased to 11.5 percent in July of 2022 from the 29-year high of 12.1 percent in the previous month. It was the first deceleration in consumer prices since the inflationary trend began in June of 2021, as costs rose at a slower rate for transportation (20.6 percent vs 25 percent in June), amid lower fuel and airfare prices, housing and utilities (30.8 percent vs 31.5 percent), as lower electricity costs offset the rise in natural gas, and clothing and footwear (3.4 percent vs 4.6 percent), due to more aggressive summer sales. On the other hand, the CPI rose faster for food and non-alcoholic beverages (13 percent vs 12.6 percent). On a monthly basis, consumer prices fell by 1.8 percent, the sharpest drop since January of 2019. source: National Statistical Service of Greece

Inflation Rate in Greece averaged 7.97 percent from 1960 until 2022, 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 August of 2022.

Inflation Rate in Greece is expected to be 10.00 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 1.50 percent in 2023 and 0.80 percent in 2024, according to our econometric models.

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Greece Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-07-08 09:00 AM Jun 12.1% 11.3% 11.8%
2022-08-08 09:00 AM Jul 11.6% 12.1% 11.9%
2022-09-09 09:00 AM Aug 11.6%


Related Last Previous Unit Reference
Inflation Rate 11.60 12.10 percent Jul 2022
Consumer Price Index CPI 111.54 113.62 points Jul 2022
Harmonised Consumer Prices 112.19 114.05 points Jul 2022
Core Inflation Rate 3.64 2.53 percent Jun 2022
Core Consumer Prices 104.09 101.97 points Jun 2022
GDP Deflator 101.01 98.95 points Dec 2021
Producer Prices 149.90 150.90 points Jun 2022
Producer Prices Change 39.90 43.00 percent Jun 2022
Import Prices 160.55 162.42 points Jun 2022
Inflation Rate Mom -1.80 1.60 percent Jul 2022
Food Inflation 13.00 12.60 percent Jul 2022
CPI Transportation 126.82 130.64 points Jul 2022
CPI Housing Utilities 133.92 134.38 points Jul 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
11.60 12.10 33.70 -2.90 1960 - 2022 percent Monthly
2009=100, NSA

News Stream
Greece Inflation Rate Eases from 1993-High
The annual inflation rate in Greece eased to 11.5 percent in July of 2022 from the 29-year high of 12.1 percent in the previous month. It was the first deceleration in consumer prices since the inflationary trend began in June of 2021, as costs rose at a slower rate for transportation (20.6 percent vs 25 percent in June), amid lower fuel and airfare prices, housing and utilities (30.8 percent vs 31.5 percent), as lower electricity costs offset the rise in natural gas, and clothing and footwear (3.4 percent vs 4.6 percent), due to more aggressive summer sales. On the other hand, the CPI rose faster for food and non-alcoholic beverages (13 percent vs 12.6 percent). On a monthly basis, consumer prices fell by 1.8 percent, the sharpest drop since January of 2019.
2022-08-08
Greece Inflation Rate Highest Since 1993
The annual inflation rate in Greece rose to 12.1 percent in June of 2022 from 11.3 percent in the previous month. It was the highest inflation rate since November of 1993, underpinned by prices of transport (25 percent vs 18.8 percent); food & non-alcoholic beverages (12.6 percent vs 12.1 percent in May); household equipment (6.5 percent vs 5.1 percent); and hotels, cafés & restaurants (6.5 percent vs 5.1 percent). Meanwhile, prices eased for housing & utilities (31.5 percent vs 35 percent). On a monthly basis, consumer prices rose 1.6 percent, accelerating sharply from a 0.7 percent uptick in the previous month.
2022-07-08
Greece Inflation Rate Highest Since 1994
The annual inflation rate in Greece rose to 11.3 percent in May of 2022 from 10.2 percent in the previous month, the highest since September of 1994. Main upward pressure came from food & non-alcoholic beverages (12.1 percent vs 10.9 percent in April), and transport (18.8 percent vs 15.4 percent). Additional pressure came from household equipment (5.1 percent vs 4.2 percent); and hotels, cafés & restaurants (5.1 percent vs 3.8 percent). Meanwhile, prices eased slightly for housing & utilities (35 percent vs 35.2 percent). On a monthly basis, consumer prices rose 0.7 percent, slowing from a 2.1 percent rise in April.
2022-06-09