ECONOMY

Greek consumer price inflation picks up to 1.1 pct in April

greek-consumer-price-inflation-picks-up-to-1-1-pct-in-april

Greece's annual EU-harmonized inflation rate accelerated in April, statistics service ELSTAT data showed on Friday.
   
The reading was 1.1 percent from 1.0 percent in March. The data showed that headline consumer price inflation also picked up to 1.0 percent year-on-year from 0.9 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. [Reuters]