Greece saw first annual deflation in almost half a century in 2013

EconomyMacroeconomy Tags: CPI, ELSTAT

The drop in Greece’s Consumer Price Index (CPI) decelerated to 1.7 percent in December after peaking with a 2.9 percent decline in November, according to the Hellenic Statistical Authority (ELSTAT).

On a monthly basis, the CPI rose 0.9 percent for the first time since September. The average rate of CPI change in 2013 was negative at -0.9 percent for the first time in more than 45 years, according to the Bank of Greece.

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