In September, consumer prices rose 1.9% over the previous month, which contrasted the 0.7% drop recorded in August. The monthly price increase mainly reflected higher prices for clothing and footwear (+17.6% month-on-month), owing to the end of seasonal sales. The increase was also fanned by higher prices for food and non-alcoholic beverages (+0.7% mom) and household equipment (+5.4% mom), which helped offsetting lower prices for alcoholic beverages and tobacco (-1.4% mom). Due to the monthly reading, annual inflation inched up from 5.5% in August to 5.6% in September, which represents the highest level since 1997. Meanwhile, the harmonised index of consumer prices (HICP) also inched up in September, thus driving annual average harmonised inflation up to 3.9% (August: +3.5%). 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, inflation is likely to moderate sharply to 1.5% - 2.0% amid subdued economic activity and high unemployment.
Inflation inches up in September
October 7, 2010
Looking for forecasts related to Inflation in Greece? Download a sample report now.
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.).