BUSINESS

Greek deflation rate grew in February

TAGS: Economy

Greece’s annual headline consumer price index fell 1.5 percent year-on-year, with the annual pace of deflation picking up from -0.5 percent in February, statistics service data showed on Friday.

Economists polled by Reuters had forecast a negative 0.5 percent headline inflation rate, unchanged from February.

The data also showed the country’s European Union-harmonized inflation rate turned negative in March after a positive reading in February.

The reading in March was -0.7 percent after 0.1 percent in February.

Consumer prices were led lower by apparel, footwear, housing, durable goods and transportation costs. Economists polled by Reuters were expecting a zero EU-harmonized inflation rate in March.

[Reuters]

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