Greece goes deeper into deflation territory

EconomyMacroeconomy Tags: CPI, ELSTAT
Photo by Harry van Versendaal
Photo by Harry van Versendaal

The drop in Greece’s Consumer Price Index (CPI) accelerated to 2.0 percent in October compared to a 1.1 percent decline in September, according to the Hellenic Statistical Authority (ELSTAT). On a monthly basis, CPI marginally eased by 0.1 percent, while the average rate of CPI change over the trailing twelve months remains negative at -0.4 percent.

Alcoholic, beverages and tobacco is the only sector exhibiting a consistently rise in prices at 3.5 percent. On the contrary, the growth in housing prices, which had risen 7.5 percent in September, turned to a negative 0.7 percent in October. Communicat...

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