ECONOMY

Inflation in Greece climbs to 2.2% in September

inflation-in-greece-climbs-to-2-2-in-september

Greece’s annual headline consumer inflation remained positive for a fourth straight month in September, data from the country’s statistics service ELSTAT showed on Friday.

Inflation was 2.2% year-on-year last month, jumping from 1.9% in August. Transport, housing, food and non-alcoholic drinks drove prices higher.

EU-harmonized inflation in Greece also picked up, to 1.9% last month from 1.2% in August, the data showed.

EU-harmonized inflation is an index of components that is used across the European Union to measure inflation in a consistent way.

Greece went through a deflationary phase during its debt crisis as wage and pension cuts and a protracted economic recession took a heavy toll on household incomes. [Reuters]