The annual inflation rate in Greece increased to 0.9 percent in March of 2019 from 0.6 percent in the previous month and above market expectations of 0.5 percent. It was the highest inflation rate since November of 2018, as prices rose faster for housing (1.8 percent from 1.3 percent in February). On the other hand, cost slowed for food & non-alcoholic beverages (1.3 percent from 2.1 percent) and hotels, cafés & restaurants (0.5 percent from 0.7 percent). In addition, prices rebounded sharply for transport (2.3 percent from -0.9 percent) while cost continued to fall for household equipment (-1.4 percent from -1.6 percent); recreation and culture (-1.7 percent from -1.8 percent); education (-0.8 percent from the same as in February) and other goods and services (-0.5 percent from -0.2 percent). On a monthly basis, consumer prices jumped 1.8 percent, following a 0.1 percent gain in February. Inflation Rate in Greece averaged 8.33 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 0.80 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.