Inflation Rate YoY
... rather than strengthening the economy, the country suffered soaring inflation … Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. On a monthly basis, consumer prices were unchanged in June, after declining 0.8 percent in the prior month.Greece's consumer price dropped 1.1 percent from a year earlier in May 2020, following a 1.4 percent decline in the previous month. Monthly inflation rate in Greece was -1.77% in January 2019. Backlinks from other websites and blogs are the lifeblood of our site and are our primary source of new traffic.If you use our datasets on your site or blog, we ask that you provide attribution via a link back to this page. It is the biggest fall in consumer prices since July of 2015, mainly due to cost of transport (-8.5 percent), namely fuels and lubricants and tickets for passenger transport by air, railway and road; housing (-4.5 percent), namely heating oil and natural gas; and miscellaneous goods and services (-1.9 percent).
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The Greek government-debt crisis was the sovereign debt crisis faced by Greece in the aftermath of the financial crisis of 2007–08.Widely known in the country as The Crisis (Greek: Η Κρίση), it reached the populace as a series of sudden reforms and austerity measures that led to impoverishment and loss of income and property, as well as a small-scale humanitarian crisis. Fear of default widened the 10-year bond spread and ultimately led to the collapse of Greece’s bond market This would shut down Greece’s ability to finance further debt repayments. Greece's consumer prices decreased 1.8 percent from a year earlier in July of 2020, following a 1.6 percent fall in the previous month. The CPI inflation rates in the table are presented both on a monthly basis (compared to the month before) as well as on a yearly basis (compared to the same month the year before). It was the third consecutive decline in consumer prices, as cost continued to drop for transport (-9.1 percent vs -7 percent in May); housing (-4.5 percent vs -3.9 percent); communication (-2.4 percent vs -2.2 percent); recreation & culture (-1.2 percent vs -0.9 percent); household equipment (-1.2 percent vs -0.8 percent) and miscellaneous goods & services (-1 percent vs -0.8 percent).
It was the fourth consecutive decline in consumer prices and at the steepest rate since July of 2015.
Greece's consumer price fell 1.6 percent from a year earlier in June 2020, following a 1.1 percent decrease in the previous month. The Trading Economics Application Programming Interface (API) provides direct access to our data. Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. Inflation Greece 2020 (CPI) - The inflation chart and table below feature an overview of the Greek inflation in 2020: CPI Greece 2020. Greece - Inflation Inflation rises in March In March, consumer prices rebounded sharply, rising 3.3% over the previous month, after dropping 1.3% in February. Inflation Rate in Greece averaged 8.14 percent from 1960 until 2020, 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.
In 2019, the average inflation rate in Greece was at 0.52 percent compared to the previous year. For comparison, inflation in India amounted to 3.44 percent that same year. The reading mainly reflects higher prices for clothing and footwear (+37.5% month-on-month) due to the end of season discounts and the arrival of the new collections.