Greece's consumer prices fell 0.1 percent from a year earlier in September 2019, after declining 0.2 percent in the previous month and compared with market consensus of a 0.3 percent decrease. Cost of miscellaneous goods and services went down at a slower pace (-0.3 percent compared to -0.8 percent in August) and prices of recreation and culture continued to fall (-1.7 percent, the same as in August). In addition, cost of housing rebounded (0.8 percent compared to -0.8 percent). On the other hand, prices dropped further for food and non alcoholic beverages (-2.1 percent compared to -1.9 percent); and household equipment (-2.3 percent compared to -1.6 percent). Also, transport inflation slowed to 1 percent from 1.8 percent in the prior month. On a monthly basis, consumer prices advanced 2.1 percent, rebounding from a 0.5 percent fall in August. Inflation Rate in Greece averaged 8.26 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 0.50 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 0.80 in 12 months time. In the long-term, the Greece Inflation Rate is projected to trend around 1.60 percent in 2020, according to our econometric models.