ELSTAT Data Shows Greek EU-Harmonized Inflation Rate Positive in December 2016

In December Greece saw its annual EU-harmonized inflation rate become positive, according to the latest figures by ELSTAT, the countries statistic agency.

Figures released on Wednesday show that Consumer prices rose in goods such as alcoholic beverages, tobacco, housing, hotels and transportation costs causing the inflation rate to be 0.3 percent in December from -0.2 percent in November.

Since 2013 Greece has been in a protracted deflation mode due to the austerities that the bailout program has placed on the country, causing pensions and wages to be slashed as well as a recession throughout the nation.