NEWS

Inflation drops slightly due to deferred bonus

The religious holiday calendar contributed to a slight reduction in Greece’s consumer inflation, which, however, remains one of the highest in the eurozone. The consumer price index grew 3.8 percent, year-on-year, in April, from 4 percent the previous month, the National Statistics Service announced yesterday. The deferred payment of the Easter bonus, equal to half a month’s salary, shaved off 0.29 percent from inflation, analysts said. Orthodox Easter fell on May 5, later than usual, and the bonus was paid a few days before. Lower fresh fruit prices also contributed to keeping inflation down. Greece’s EU-harmonized inflation was running at 4.1 percent, down from 4.4 percent in April. Average April eurozone inflation, still unavailable, has been forecast at 2.2 percent.