The inflation rate in Greece fell to 0.2 percent year-on-year in May 2019, the lowest since April 2018, from 1 percent in the previous month as prices rose at a softer pace for food and non-alcoholic beverages (0.5 percent vs 1.3 percent) and transport (1.1 percent vs 4.3 percent). In addition, cost fell for: housing (-0.7 percent vs 1.4 percent); household equipment (-1.9 percent vs -1.8 percent); and recreation and culture (-1.8 percent vs -1.6 percent). On a monthly basis, consumer prices dropped 1.1 percent, reversing a 1 percent gain in April. Inflation Rate in Greece averaged 8.31 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 0.00 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 1.20 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.