Greek deflation decelerates to 1.5 pct due to VAT rate hikes

EconomyMacroeconomy Tags: CPI, ELSTAT
Photo by MacroPolis
Photo by MacroPolis

The Greek Consumer Price Index (CPI) fell by 1.5 percent in August from 2.2 percent in the preceding two months, according to data released by the Hellenic Statistical Authority (ELSTAT) on Wednesday.

This was the first reading below the 2-percent mark since November 2014, when CPI had dropped by 1.2 percent. Since then, the CPI decrease ranged between 2.1 to 2.8 percent.

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