BUSINESS

Greek consumer price inflation picks up to 0.9 pct in August

TAGS: Economy

Greece's annual EU-harmonised inflation rate accelerated slightly in August, statistics service ELSTAT data showed on Monday.



The reading was 0.9 percent from 0.8 percent in July. The data showed the headline consumer price index rose to 1.0 percent year-on-year, also picking up from 0.9 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]

Online