Greek annual inflation rate rose by an average 1.1 pct in 2017

The Greek annual inflation rate rose by an average 1.1 pct in 2017, after recording a 0.7 pct increase in December, Hellenic Statistical Authority said on Friday.

The statistics service, in a report, said that the consumer price index grew 0.7 pct in December compared with the same month in 2016, after a zero change in the 2016/2015 period, and attributed this development to price increases in: food/beverages up 0.5 pct, alcohol/tobacco up 6.9 pct, transport up 4.9 pct, communications up 1.3 pct, education up 0.2 pct, hotel/restaurants up 1.2 pct. On the other hand, prices fell 1.6 pct in clothing/footwear, 0.8 pct in housing, 2.2 pct in durable goods, 1.2 pct in health, 1.6 pct in entertainment and 2.2 pct in other goods and services.

The consumer price index grew 0.5 pct in December from November 2017, after an 1.0 pct increase recorded in the previous year.

Greece’s harmonised inflation rate grew 1.0 pct in December from December 2016, after a 0.3 pct increase recorded in the 2016/2015 period. On a monthly basis, the harmonised inflation rate rose 0.3 pct in December from November 2017, while on an average the harmonised inflation rate rose 1.1 pct in 2017.