The above graph shows the average rate of inflation (per month) in Greece from 2008 to 2010. Taking a look at the graph, we can see that in July 2010, inflation hit a high of 5.5% in comparison to July 2009 when it was at a mere 0.6% - ultimately showing us how much inflation can rise or fall in as little as a year.
Greece was once considered a high inflation risk country, but by adopting the euro in 2002 they saw an increase in consumer spending which resulted in a boost in the economic growth.
Inflation Facts about Greece
- Average inflation rate for the last 50 years is 9.7%
- Historical high was in January 1974, at 33.7%
- Record low was in February 1962, at -2.1%