November sees 2.9 pct inflation

Greece’s headline consumer inflation is expected to slow to below 3 percent in November, from 3.9 percent in October, due to falling energy prices and softer demand for goods and services. The National Statistics Service (NSS), scheduled to announce November’s inflation data on Monday, is likely to announce consumer inflation has fallen to an annual pace of 2.9 percent, according to NSS sources. Price cuts delivered by retailers attempting to attract more consumers to their stores have helped drive the index lower, according to initial data. Last week, several chambers of commerce invited members to offer special deals rather than wait for the regular sales season, in a bid to bump up depressed revenues. Retail sales in Greece are normally held during the January-February and July-August periods. Consumer price inflation in the 15-country eurozone in November fell by 1.1 percentage points to 2.1 percent.

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