Inflation Greece 2003
Average inflation: 3.5%
Current Inflation
Inflation is high at 3.5%, well above the ECB target.
Peak and Trough
The highest inflation was in February at 4.3%. The lowest inflation was in January at 3.1%.
- Highest month
- February: 4.3%
- Lowest month
- January: 3.1%
- Difference
- 1.2 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food and non-alcoholic beverages with an average of 5.0%. The lowest price increase was in Communication with an average of -4.2%.
- Highest increase
- Food and non-alcoholic beverages: 5.0%
- Lowest increase
- Communication: -4.2%
Historical Context
Current inflation is around the 5-year average of 3.2%.
- 5-year average
- 3.2%
- 10-year average
- 5.5%
- All-time high (1986)
- 23.2%
- All-time low (1999)
- 2.6%
Trend
Inflation has remained relatively stable. Compared to 2002, the difference is minimal (-0.1 percentage point).
- Change vs. previous year
- -0.1 percentage points
- Largest monthly swing
- January: -1.3 percentage points
ECB Target
Inflation is 1.5% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €103.50 next year at this inflation rate.
Multi-year trend
Monthly figures 2003
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2002 |
|---|---|---|
| January | 3.1% | -1.3 |
| February | 4.3% | +0.9 |
| March | 4.1% | +0.1 |
| April | 3.4% | -0.4 |
| May | 3.8% | +0.4 |
| June | 3.8% | +0.5 |
| July | 3.6% | +0.3 |
| August | 3.3% | -0.2 |
| September | 3.3% | -0.2 |
| October | 3.2% | -0.5 |
| November | 3.3% | -0.3 |
| December | 3.1% | -0.3 |
| Average | 3.5% |
Data source
Data from OECD. Last updated: 11/01/2026.