BUSINESS

Greek consumer price inflation at +0.4 pct in February

TAGS: Finance

Greece's annual EU-harmonized inflation rate accelerated in February, statistics service ELSTAT data showed on Friday.

The reading in February was 0.4 percent from 0.2 percent in January. The data also showed the headline consumer price index also picked up to 0.1 percent year-on-year from -0.2 percent in the previous month.

Greece had been in a protracted deflation mode since March 2013 based on its headline index, as wage and pension cuts and a protracted recession took a heavy toll on Greek household incomes.
   
Deflation in the country hit its highest level in Nov. 2013 when consumer prices registered a 2.9 percent year-on-year decline. The economy emerged from deflation in June 2016.

[Reuters]

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