BUSINESS

Greek consumer price inflation slows to 0.2 pct in March

GEORGE GEORGIOPOULOS

TAGS: Economy

Greece's annual EU-harmonised inflation rate slowed in March, statistics service ELSTAT data showed on Friday.

The reading in March was 0.2 percent from 0.4 percent in February. The data also showed the headline consumer price index turned negative at -0.2 percent year-on-year from 0.1 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 multi-year 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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