BUSINESS

Greek EU-harmonized inflation picks up to 0.5 pct in November

TAGS: Statistics

Greece's annual EU-harmonised inflation rate accelerated in November, statistics service ELSTAT data showed on Tuesday. The reading was 0.5 percent from -0.3 percent percent in October.

The data also showed that headline consumer price inflation swinging to positive territory at 0.2 percent from -0.7 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 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.

Eurozone inflation jumped to 1 percent in November from 0.7 percent in October.

[Reuters]

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