Consumer price index reverts to negative in January

Consumer price index reverts to negative in January

Greece's annual headline consumer price index turned negative in January at -0.2 percent year-on-year, from 0.7 percent in the previous month, statistics service ELSTAT data showed on Thursday.

The data also showed the EU-harmonized inflation rate slowed to 0.2 percent last month from 1.0 percent in December.      

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 November 2013 when consumer prices registered a 2.9 percent year-on-year decline. The economy emerged from deflation in June 2016.


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.