Greek deflation slows down in June

Greek consumer prices fell 1.1 percent in June, with the annual pace of deflation decelerating from a 2 percent fall in prices in May, data from the country’s statistics service showed on Wednesday.

The EU-harmonized deflation rate also slowed down to -1.5 percent in June from -2.1 percent in May, broadly in line with a -1.6 percent rate expected by economists in a Reuters poll.

In November, deflation in Greece hit its highest level since monthly records began in 1960, registering a 2.9 percent year-on-year decline.

Euro zone inflation held steady at 0.5 percent in June, still within the danger zone of under 1 percent, which keeps pressure on the European Central Bank to take action to stop the threat of deflation. [Reuters]

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.