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Causes of the Recent Inflation in Greece and Suggestions for the Future

Author

Listed:
  • Prodromos Prodromidis

    (Centre for Planning & Economic Research (KEPE), Athens, Greece)

Abstract

The paper explains the evolution of the general price level in Greece from 2010 onwards, in terms of aggregate demand and aggregate supply shifts; empirically analyzes the evolution of prices from 2000 onwards in terms of the long-term trend, the currency changeover, seasonal sales periods, intermediate deviations from the trend (due to taxes, the pandemic, the war in Ukraine/energy crisis, and increased post-pandemic spending), the minimum wage, the ECB interest rate, as well as the price of agricultural inputs; and provides policy suggestions based on the paper’s explanations and findings.

Suggested Citation

  • Prodromos Prodromidis, 2024. "Causes of the Recent Inflation in Greece and Suggestions for the Future," South-Eastern Europe Journal of Economics, Association of Economic Universities of South and Eastern Europe and the Black Sea Region, vol. 22(1), pages 31-46.
    • Handle: RePEc:seb:journl:v:22:y:2024:i:1:p:31-46
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    File URL: https://asecu.gr/old_files/Seeje/issue42/issue42-prodromidis.pdf
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    References listed on IDEAS

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    Keywords

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    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes

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