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%.

August Greek Inflation Remains Stable

Sep 6, 2007 - The Greek Consumer Price Index, CPI, grew 2.5% on an annual basis in August, the statistical office said Thursday. In July also, the increase in the CPI was 2.5% annually. The CPI gained 3.5% in the same month of the last year.

On a monthly basis, the CPI slipped 0.7% in August, while the CPI eased 0.8% in the previous month. The CPI dipped 0.7% in the same year ago period also. In the twelve months to August, the CPI advanced 2.7%, a little less than the growth of 3.5% in the prior comparable period.

Prices of food and non-alcoholic beverages increased 3.3% annually in August, slightly higher than the 2.7% rise in prices of food and non-alcoholic beverages in July. Prices of alcoholic beverages and tobacco climbed 6.7% in August, the same as in the prior month. Clothing and footwear prices advanced an annul 4.1%, after gaining 3.5% in the last month.

In August, housing prices moved up 1.9% year-on-year, a tad less than the 2.1% expansion in housing prices in the earlier month. Transport prices slipped 1% in August, after sliding 0.2% in the previous month. Communication prices gained 1% in August, equal to the rise in communication prices in July.

On a monthly basis, clothing and footwear prices slumped 7.2% in August, while housing prices gained 0.5%. Transport prices sank 1.2% in August, while communication prices remained unchanged.

Greece H1 GDP growth at 4.4 pct, 4.2 pct in Q2

Aug 8, 2007 - Greece's Finance Minster, George Alogoskoufis, said Greece's GDP grew by 4.4 pct in the first half of the year, compared to the first half of 2006.

He added that growth beat the 3.9 pct annual budget target, but that second quarter GDP growth slowed to 4.2 pct from 4.6 pct in the first quarter.

The figures were scheduled to be released on Friday by the Greek National Statistics Service, but the minister revealed them when speaking at a press conference organised to present a public fund designated to combat poverty in Greece.

In the beginning of May, the European Commission forecast that economic growth in Greece for 2007 will fall to 3.7 pct from 4.3 pct in 2006, but the local finance ministry had not accept these estimates.