Greece's consumer prices decreased 1.8 percent from a year earlier in July of 2020, following a 1.6 percent fall in the previous month. It was the fourth consecutive decline in consumer prices and at the steepest rate since July of 2015. Main downward pressure came from prices of transport (-9.1 percent, the same pace as in June); housing (-4.5 percent, the same pace as in June); recreation & culture (-1.2 percent, the same pace as in June); communication (-1.8 percent vs -2.4 percent) and household equipment (-0.9 percent vs -1.2 percent). In addition, food inflation slowed (1.8 percent vs 3.6 percent). On a monthly basis, consumer prices went down 1.7 percent, after being flat in the previous month.
Inflation Rate in Greece averaged 8.14 percent from 1960 until 2020, 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 2020.
Inflation Rate in Greece is expected to be -1.20 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 -0.40 in 12 months time. In the long-term, the Greece Inflation Rate is projected to trend around 2.00 percent in 2021 and 1.70 percent in 2022, according to our econometric models.