The annual inflation rate in Greece decreased to 0.6 percent in December of 2018 from 1 percent in the previous month. It was the lowest rate since May, as prices slowed for food & non-alcoholic beverages (0.4 percent from 1 percent in November); transport (0.8 percent from 2.3 percent); housing (1.1 percent from 2.5 percent); hotels, cafes & restaurants (0.8 percent from 1.2 percent); In addition, cost continued to fell for household equipment (-1.7 percent from -1.8 percent) and recreation & culture (-0.8 percent from -0.9 percent). On a monthly basis, consumer prices went up 0.1 percent, after a 0.7 percent drop in November. Inflation Rate in Greece averaged 8.36 percent from 1960 until 2018, 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 1.40 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 1.40 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.