New Data Put Greek Annual Inflation Among Eurozone’s Lowest



 

Greece’s annual inflation was 0.4 percent in February, Eurostat reported on Friday, putting it among the lowest rates in the eurozone and below the EU average of 1.3 percent.

The data placed Greece among Cyprus, Denmark and Italy as having the lowest inflation. Although Friday’s figure is a 0.2-percent increase on January’s number, Greek inflation still remains below the European average.

Overall, annual inflation was down to 1.1 percent in the single-currency zone and 1.3 percent in the EU overall.

The highest annual rates were recorded in Romania (3.8 percent), Estonia and Lithuania (both 3.2 percent). Compared with January, annual inflation fell in 18 EU states, remained stable in two and rose in seven.

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.

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

Average consumer price inflation in the whole year 2017 was 1.1 percent compared with 2016.