Greek Annual Inflation Accelerates In September

Oct 8, 2007 - The Greek Statistical Office said the Consumer Price Index, or CPI, for September increased 2.9% over the same month last year. The rate is higher than the 2.5% logged in August. The September annual inflation was in line with the rate recorded in the same month prior year.

On a monthly basis, the CPI rose 2.0% in September. Whereas, the monthly increase was 1.6% in September 2006. In August, consumer prices fell 0.7%.

Clothing and footwear prices logged the biggest increase of 15.4% in September. Meanwhile, communication costs declined 2.4%.

The average rate of increase of the CPI in the twelve-month period of October 2006-September 2007 was 2.7%, compared to a rate of change of 3.4% reported in the same period a year earlier.

For September, the Harmonized Index of Consumer Prices, or HICP, rose 2.9% over the same month last year. In the year earlier period, the annual HICP inflation rate was 3.1%.

Monthly HICP inflation rate for September came in at 2.3%, while it was 2.0% in the corresponding period a year ago.

Annual average rate of HICP increase was 2.9% in the twelve-month period. In the comparable period last year, annual average HICP inflation rate was 3.4%.