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. Inflation Rate in Greece averaged 8.29 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.
Inflation Rate in Greece is expected to be 0.50 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 1.20 in 12 months time. In the long-term, the Greece Inflation Rate is projected to trend around 1.70 percent in 2020, according to our econometric models.