BUSINESS

Prices in Greece decline in August

TAGS: Economy

Greece’s consumer price index returned to negative territory in August as data for the month released on Tuesday by the Hellenic Statistical Authority (ELSTAT) showed a deflation rate of 0.2 percent compared to a year earlier.

The European Union-harmonized index showed a marginal increase of 0.1 percent, down from a 0.4 percent rate in July.

Greece had been in deflation for over three years, from March 2013 to May 2016, peaking in November 2013 when prices shrank at an annual rate of 2.9 percent.

In the last 12 months (September 2018 - August 2019) the national index grew by 0.6 percent year-on-year, against 0.5 percent during the previous 12-month period.

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