The annual inflation rate in Greece declined to 1.0 percent in November of 2018 from 1.8 percent in the previous month. It was the lowest inflation rate since August, as prices slowed for food & non-alcoholic beverages (1.0 percent from 2.0 percent in October); transport (2.3 percent from 4.3 percent); housing (2.5 percent from 3.7 percent); hotels, cafes and restaurants (1.2 percent from 1.3 percent); and health (0.7 percent from 0.8 percent). Also, cost of household equipment dropped further (-1.8 percent from -1.3 percent). On the other hand, prices declined less for clothing & footwear (-0.7 percent from -0.9 percent) and cost of recreation & culture continued to fall (-0.9 percent, the same as in October). On a monthly basis, consumer prices went down 0.7 percent, after rising 0.1 percent in the prior month. Inflation Rate in Greece averaged 8.37 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 1.00 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 1.50 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.