Greece - Consumer Price Index (CPI)




Greece: Consumer Price Index (CPI)

Mnemonic CPI.IGRC
Unit Index 2020=100, NSA
Adjustments Not Seasonally Adjusted
Monthly 1.54 %
Data Mar 2024 117.39
Feb 2024 115.61

Series Information

Source Hellenic Statistical Authority (ELSTAT)
Release CPI - Consumer Price Index and Harmonized CPI
Frequency Monthly
Start Date 1/31/1955
End Date 3/31/2024

Greece: Price

Reference Last Previous Units Frequency
Consumer Price Index (CPI) Mar 2024 117.39 115.61 Index 2020=100, NSA Monthly
Producer Price Index (PPI) Feb 2024 137.35 137.96 Index 2015=100, NSA Monthly
Wholesale Price Index Dec 2004 110.42 109.93 Index 2005=100 Monthly

Release Information

Description

For Greece, a detailed CPI and Eurostat-harmonized CPI (HICP or CPI-H).

Properties

CPI

Active:

  • Classification: Adaptation of COICOP
  • Measurement: Fixed-based index relative to 2020 (Index 2020=100)
  • Adjustments:
    • Seasonally adjusted (SA)
    • Not seasonally adjusted (NSA)
  • Native frequency: Monthly
  • Start date: As early as 1999m1

Predecessors:

  • 2009=100 - 1999m1 to 2021m12 (archive specifier "_09")

HICP

Active:

  • Classification: Adaptation of COICOP
  • Measurement: Index 2015=100
  • Adjustment:
    • Seasonally adjusted (SA)
    • Not seasonally adjusted (NSA)
  • Native frequency: Monthly
  • Start date: 1995m1

Predecessors:

  • 2005=100 - 2004m1 to 2015m1 ("_05")

Methodology

HICP base year is according to (EC) Council Regulation EE 2015/2010.

The classification of items (goods and services) that are included in the index is based on the international classification COICOP (Classification of Individual consumption by Purpose) and, in particular, as this has been adapted to the needs of the HICPs of the EU Member States, thus creating the COICOP5/HICP classification.

The source writes:

Data are disseminated on the CPI, which covers the entire country of Greece.Prices are not seasonally adjusted.In addition to the national Consumer Price Index the Harmonized Index of Consumer Prices (HICP) is compiled. The revised CPI, in conformity with the HICPs practice, is rounded up to 2 decimal figures when published.HICPs are compiled by the member states of the European Union, in conformity with Council and Commission Regulations, in order to provide comparable data for international inflation comparisons and, in particular, for the assessment of the price stability convergence criterion, as required by EU Convention.

The Harmonized Index of Consumer Prices (HICP) is compiled in parallel with the CPI by the Hellenic Statistical Authority (ELSTAT), since 1996.

The Harmonized Indices of Consumer Prices (HICPs) are compiled by the Member States of E.U. in accordance with EC Regulations, in order to provide comparable data for the international inflation comparisons and, in particular, for the assessment of the convergence criterion, of price stability, in the frame of the European Monetary Union (EMU) requirements. The HICPs are the basis for compiling the European Index of Consumer Prices (EICP) and the Monetary Union Index of Consumer Prices (MUICP), which provide the official measures of inflation in the EU28 and the Euro-zone (19 Member States), respectively. It should be noted that the HICP is not a cost of living index and it is not applied by a country for domestic use such as indexation or wage bargaining also it is not intended to replace the national Consumer Price Index.

Moody's Analytics supplements

For the general index, we back-extend (1955m1 to 1998m12) using the predecessor and IMF. We construct a seasonally adjusted counterpart.

Notes