In December, consumer prices rose 0.4% over the previous month, double the increase seen in November. The reading mainly reflected higher prices for housing (+1.3% month on month) and for transport (+0.8% mom) as a result of higher oil prices. Owing to the price increase, annual inflation rose from 4.9% in November to 5.2% in December. Meanwhile, annual average HICP inflation (based on the harmonized index of consumer prices) closed the year at 4.7% in December, up from 4.5% in November. The government expects average inflation to moderate this year to 2.2%. Meanwhile, the European Commission and the International Monetary Fund (IMF) anticipate inflation to moderate to 1.5% - 2.0% amid subdued economic activity and high unemployment.
Inflation accelerates in December
January 11, 2011
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Greece Economic News
October 10, 2016
In August, industrial production fell a working-day adjusted 0.3% compared to the same month last year, which contrasted the revised 4.7% expansion in July (previously reported: +4.1% year-on-year).
October 6, 2016
The number of unemployed fell by 5,357 in July, according to the Hellenic Statistical Authority (EL.STAT.).
October 3, 2016
The IHS Markit manufacturing Purchasing Managers’ Index (PMI) deteriorated in September, erasing most of the gains made in August.
September 9, 2016
In July, industrial production rose a working-day adjusted 4.1% compared to the same month last year, which came in below the revised 7.9% expansion in June (previously reported: +7.5% year-on-year).
September 8, 2016
The number of unemployed fell by 6,800 in June, according to the Hellenic Statistical Authority (EL.STAT.).