Greek Inflation Rise Slows Down in December



Greece’s consumer price inflation eased in December after accelerating in the previous month, figures from the Hellenic Statistical Authority (ELSTAT) showed Friday.

Consumer prices climbed 0.7 percent year-over-year in December, slower than the 1.1 percent increase in November. The measure has been rising since January.

Transport costs grew 4.9 percent annually in December and prices of food and non-alcoholic beverages increased by 0.5 percent. On a monthly basis, consumer prices rose 0.5 percent from November, when it dropped by 0.7 percent.

The rise of inflation in the middle of a recession has been a major issue for Greek households. Consumers see prices go up, while their wages remain stagnant or dropping. Average consumer price inflation in the whole year 2017 was 1.1 percent compared with 2016.

EU harmonized inflation in Greece, moderated marginally to 1 percent in December from 1.1 percent in the prior month.

Month-on-month, the harmonized index of consumer prices went up 0.3 percent in December, reversing a 0.9 percent fall in November.


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