Inflation rates in Greece
The inflation rate for consumer prices in Greece moved over the past 62 years between -1.7% and 26.6%. For 2022, an inflation rate of 9.6% was calculated.During the observation period from 1960 to 2022, the average inflation rate was 8.0% per year. Overall, the price increase was 10,011.91%. An item that cost 100 euros in 1960 costs 10,111.91 euros at the beginning of 2023.
For November 2023, the year-over-year inflation rate was 3.03%.
› Inflation rates in global comparison
Performance over the last 62 years compared with the USA
In only a few countries are negative inflation rates achieved. This means that the general price level is declining and consumer prices get cheaper. This is called deflation. In comparison to most other countries, the drastic price increases are no longer average. Usually this is a sign of political and economic turmoil.Performance based on 100% in 1959:
EU convergence criteria
Within the European Union, each member state must adhere to the convergence criteria of the Maastricht Treaty in order to achieve approximately the same economic stability throughout the EU. In addition to debt limits, budget deficits and interest rates for government bonds, these criteria also include a maximum inflation rate. In no country may it be higher than 1.5% above that of the countries with the most stable prices. In November, these were Denmark with an inflation rate of 0.60%, Italy with 0.67% and Belgium with 0.76%. Together, this results in an average of 0.68% and a permitted upper limit of 2.18%.At 3.03%, Greece is therefore noticeably, but not yet dangerously, above the permitted limit.
Inflation calculator for Greece
Enter any amount, a start year and an end year here. You will then be shown the amount that resulted from the original amount after inflation.100 euros in 1960 will still be 100 euros in 2023. The nominal value does not change. What does change, is the purchasing power. In other words, the amount of goods that can be bought with this money. As inflation increases, this amount decreases.
Example: The purchasing power of 100 euros in 1960 corresponds to that of 10,111.91 euros at the beginning of 2023. Conversely, in 1960 you could buy as much with 4.45 euros as you can today with 1000 euros.
Inflation rates for consumer goods in Greece
Energy and food
Historical inflation rates in comparison
| Year | Greece | Ø EU | Ø USA | Ø World |
|---|---|---|---|---|
| 2022 | 9.65 % | 8.83 % | 8.00 % | 7.97 % |
| 2021 | 1.22 % | 2.55 % | 4.70 % | 3.47 % |
| 2020 | -1.25 % | 0.48 % | 1.23 % | 1.94 % |
| 2019 | 0.25 % | 1.63 % | 1.81 % | 2.21 % |
| 2018 | 0.63 % | 1.74 % | 2.44 % | 2.44 % |
| 2017 | 1.12 % | 1.43 % | 2.13 % | 2.22 % |
| 2016 | -0.83 % | 0.18 % | 1.26 % | 1.61 % |
| 2015 | -1.74 % | -0.06 % | 0.12 % | 1.44 % |
| 2014 | -1.31 % | 0.20 % | 1.62 % | 2.35 % |
| 2013 | -0.92 % | 1.22 % | 1.46 % | 2.62 % |
| 2012 | 1.50 % | 2.66 % | 2.07 % | 3.73 % |
| 2011 | 3.33 % | 3.29 % | 3.16 % | 4.82 % |
| 2010 | 4.71 % | 1.53 % | 1.64 % | 3.35 % |
| 2009 | 1.21 % | 0.84 % | -0.36 % | 2.94 % |
| 2008 | 4.15 % | 4.16 % | 3.84 % | 8.95 % |
| 2007 | 2.90 % | 2.51 % | 2.85 % | 4.82 % |
| 2006 | 3.20 % | 2.67 % | 3.23 % | 4.28 % |
| 2005 | 3.55 % | 2.49 % | 3.39 % | 4.11 % |
| 2004 | 2.90 % | 2.29 % | 2.68 % | 3.38 % |
| 2003 | 3.53 % | 2.09 % | 2.27 % | 3.03 % |
| 2002 | 3.63 % | 2.42 % | 1.59 % | 2.83 % |
| 2001 | 3.37 % | 3.37 % | 2.83 % | 3.84 % |
| 2000 | 3.15 % | 3.15 % | 3.38 % | 3.49 % |
| 1999 | 2.64 % | 2.16 % | 2.19 % | 3.08 % |
| 1998 | 4.77 % | 2.42 % | 1.55 % | 5.11 % |
| 1997 | 5.54 % | 3.11 % | 2.34 % | 5.57 % |
| 1996 | 8.19 % | 3.56 % | 2.93 % | 6.55 % |
| 1995 | 8.93 % | 4.43 % | 2.81 % | 9.15 % |
| 1994 | 10.87 % | 4.72 % | 2.61 % | 10.32 % |
| 1993 | 14.41 % | 4.85 % | 2.95 % | 7.51 % |
| 1992 | 15.88 % | 6.22 % | 3.03 % | 7.71 % |
| 1991 | 19.46 % | 5.48 % | 4.23 % | 9.00 % |
| 1990 | 20.43 % | 6.15 % | 5.40 % | 8.13 % |
| 1989 | 13.66 % | 6.26 % | 4.83 % | 7.00 % |
| 1988 | 13.53 % | 4.54 % | 4.08 % | 7.15 % |
| 1987 | 16.40 % | 4.02 % | 3.66 % | 5.76 % |
| 1986 | 23.02 % | 3.68 % | 1.90 % | 5.82 % |
| 1985 | 19.31 % | 5.40 % | 3.55 % | 6.86 % |
| 1984 | 18.46 % | 7.67 % | 4.30 % | 8.12 % |
| 1983 | 20.18 % | 8.67 % | 3.21 % | 8.77 % |
| 1982 | 20.99 % | 9.58 % | 6.13 % | 10.24 % |
| 1981 | 24.51 % | 11.77 % | 10.33 % | 12.47 % |
| 1980 | 24.68 % | 12.91 % | 13.55 % | 13.98 % |
| 1979 | 19.09 % | 8.22 % | 11.25 % | n/a |
| 1978 | 12.57 % | 7.76 % | 7.63 % | n/a |
| 1977 | 12.37 % | 9.77 % | 6.50 % | n/a |
| 1976 | 13.02 % | 9.35 % | 5.74 % | n/a |
| 1975 | 13.63 % | 10.47 % | 9.14 % | n/a |
| 1974 | 26.56 % | 13.16 % | 11.05 % | n/a |
| 1973 | 15.38 % | 7.75 % | 6.18 % | n/a |
| 1972 | 4.33 % | 6.01 % | 3.27 % | n/a |
| 1971 | 3.29 % | 5.24 % | 4.29 % | n/a |
| 1970 | 2.84 % | 4.51 % | 5.84 % | n/a |
| 1969 | 2.64 % | 2.67 % | 5.46 % | n/a |
| 1968 | 0.14 % | 3.24 % | 4.27 % | n/a |
| 1967 | 1.84 % | 3.32 % | 2.77 % | n/a |
| 1966 | 4.90 % | 3.70 % | 3.02 % | n/a |
| 1965 | 3.22 % | 3.99 % | 1.59 % | n/a |
| 1964 | 0.62 % | 3.42 % | 1.28 % | n/a |
| 1963 | 3.18 % | 2.92 % | 1.24 % | n/a |
| 1962 | -0.48 % | 3.55 % | 1.20 % | n/a |
| 1961 | 2.10 % | 2.08 % | 1.07 % | n/a |
| 1960 | 1.48 % | 1.74 % | 1.46 % | n/a |
Data basis: International Monetary Fund, World Bank and OECD Inflation CPI indicator (doi:10.1787/eee82e6e-en)
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Country comparison: Greece / United States
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