Inflation Greece 2008
Average inflation: 4.2%
Inflation in 2008
Inflation is high at 4.2%, well above the ECB target.
Peak and Trough
The highest inflation was in May at 4.9%. The lowest inflation was in December at 2.0%.
- Highest month
- May: 4.9%
- Lowest month
- December: 2.0%
- Difference
- 2.9 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Housing, water, electricity, gas and other fuels with an average of 8.7%. The lowest price increase was in Communication with an average of -2.4%.
- Highest increase
- Housing, water, electricity, gas and other fuels: 8.7%
- Lowest increase
- Communication: -2.4%
Historical Context
Inflation is 0.9 percentage points higher than the 5-year average of 3.3%.
- 5-year average
- 3.3%
- 10-year average
- 3.3%
- All-time high (1990)
- 20.3%
- All-time low (1999)
- 2.6%
Trend
Over the period 2006-2008, inflation has remained relatively stable. Compared to 2007, inflation has risen by 1.3 percentage points.
- Change vs. previous year
- +1.3 percentage points
- Largest monthly swing
- July: +2.4 percentage points
ECB Target
Inflation is 2.2 percentage points 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 €104.20 next year at this inflation rate.
Multi-year trend
Monthly figures 2008
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2007 |
|---|---|---|
| January | 3.9% | +1.2 |
| February | 4.4% | +1.7 |
| March | 4.4% | +1.8 |
| April | 4.4% | +1.9 |
| May | 4.9% | +2.3 |
| June | 4.9% | +2.3 |
| July | 4.9% | +2.4 |
| August | 4.7% | +2.2 |
| September | 4.6% | +1.7 |
| October | 3.9% | +0.8 |
| November | 2.9% | -1.0 |
| December | 2.0% | -1.9 |
| Average | 4.2% |
Data source
Data from OECD. Last updated: 13/01/2026.