Harmonized inflation rises to over one-year high in May

Latest reading: Harmonized inflation came in at 3.3% in May, which was up from April’s 2.6%. May's figure was the highest inflation rate since March 2024. Looking at the details of the release, prices for food and non-alcoholic beverages plus housing and utilities rose at a faster pace in May. That said, prices for transportation dropped after rising in the previous month. The trend pointed up mildly, with annual average harmonized inflation coming in at 3.0% in May (April: 2.9%). Meanwhile, consumer price inflation rose to 2.5% in May from the previous month's 2.0%. Lastly, harmonized consumer prices rose 0.35% from the previous month in May, slowing down from the 0.47% increase logged in April. May's result marked the lowest reading since February.

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Greek inflation projections for the next ten years from a panel of 17 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Greek inflation.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Greek inflation projections.

Want to get access to the full dataset of Greek inflation forecasts? Send an email to info@focus-economics.com.