Greece inflation October 2022

Coordinated inflation came in at 9.5% in October, down from 12.1% in September. The October reading represented the lowest inflation rate since April. This decline was driven by moderate price pressure on transportation, housing and utilities. However, food inflation accelerated further.

The trend has pointed upward, with the harmonized average annual inflation coming in at 8.6% in October (September: 8.1%). Meanwhile, consumer price inflation fell to 9.1% in October from 12.0% in September.

Finally, Harmonized Consumer Prices fell 1.25% in October from the previous month, compared to September’s rise of 2.96%. The October result was the lowest reading since April.

Our panel of experts sees the harmonized rate of inflation at 4.9% in 2023, down 0.1 percentage point from last month’s estimate. In 2024, our panel sees the harmonized inflation rate at an average of 1.8%.

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