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The effect of pressure to several hundred kilobars has been measured on the lattice parameters of diamond, graphite, and hexagonal boron nitride. The linear compressibility of diamond is independent of pressure. The a axis of graphite (characteristic distance in the plane) is considerably more compressible than diamond at low pressure but above about 160 kbar is much less compressible than diamond. The c axis of graphite is much more compressible than the a axis. Assuming van der Waals forces between the graphite planes and using the lattice sums of Girifalco and Lad, it is possible to describe the compressibility of graphite to very high pressure from low-pressure data. Hexagonal BN is much like graphite, with both a and c axes somewhat more compressible than the corresponding parameters of graphite.
Lynch et al. (Sat,) studied this question.