Inflation Measurement in Greece

Nikos P. Karabalis () and Euripides Kondelis ()
Additional contact information
Nikos P. Karabalis: Bank of Greece

Economic Bulletin, 2007, issue 28, 83-95

Abstract: Consumer price indices reflect changes through time in the prices of goods and services that are bought by households for the satisfaction of their consumption needs. In Greece, there are two different indicators of inflation issued by the National Statistical Service of Greece. The Consumer Price Index (CPI) is the official indicator of the domestic level used for the adjustment of wages and the adaptation of the purchasing power of the currency. The second is the Harmonized Index of Consumer Prices (HICP) created through coordinated and systematic efforts at harmonization within the European Union; it is used by the European Central Bank. This article describes these two measures and the differences between them are stressed. Both indicators are distinct from a macroeconomic perspective, nevertheless for confusion to be avoided and in the context of optimal practices and European convergence it would be best if these two indices were identical.

Keywords: measurement of inflation; consumer price indices (search for similar items in EconPapers)
JEL-codes: C43 E31 (search for similar items in EconPapers)
Date: 2007
References: View complete reference list from CitEc
Citations: View citations in EconPapers (27)

Downloads: (external link)
https://www.bankofgreece.gr/BogEkdoseis/econbull200702.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bog:econbl:y:2007:i:28:p:83-95

Access Statistics for this article

Economic Bulletin is currently edited by Dimitris Malliaropulos

More articles in Economic Bulletin from Bank of Greece Contact information at EDIRC.
Bibliographic data for series maintained by Anastasios Rizos ().