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Greek consumer price inflation picks up to 1.1 percent in November

Published 08/12/2017, 10:21
Updated 08/12/2017, 10:30
© Reuters. Greek consumer price inflation picks up to 1.1 percent in November

ATHENS (Reuters) - Greece's annual EU-harmonised inflation rate accelerated in November, statistics service ELSTAT data showed on Friday.

The reading in November was 1.1 percent from 0.5 percent in October. The data also showed the headline consumer price index was 1.1 percent year-on-year from 0.7 percent in the previous month.

Consumer prices were led higher by alcoholic beverages, tobacco, hotels and restaurants, the data showed.

Greece had been in a protracted deflation mode since March 2013 based on its headline index, as wage and pension cuts and a multi-year recession took a heavy toll on Greek household incomes.

Deflation in the country hit its highest level in Nov. 2013 when consumer prices registered a 2.9 percent year on year decline. The economy emerged from deflation in June 2016.

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