In November, consumer prices rose 0.2% over the previous month, mirroring the increase seen in October. The moderate reading mainly reflected lower prices for hotels, cafes and restaurants (-0.2% month on month), which partially offset higher prices for food and non-alcoholic beverages (+0.2% mom) as well as for housing (+0.5% mom). Owing to the subdued price increase, annual inflation fell from 5.2% in October to 4.9% in November, which marked the second consecutive month inflation had fallen. Meanwhile, annual average harmonised inflation (based on HICP) rose from 4.3% in October to 4.5% in November. The government expects inflation to average 4.6% this year before slowing to 2.2% in 2011. Meanwhile, the European Commission, the European Central Bank (ECB) and the International Monetary Fund (IMF) expect 2010 inflation to end the year at 4.8%. In 2011, they anticipate inflation to moderate sharply to 1.5% - 2.0% amid subdued economic activity and high unemployment.
Inflation moderates for second consecutive month
December 8, 2010
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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.).