Greek inflation rate at -0.5 pct in October

Greek economy remained in a deflation trend for the 44th successive month in October, with the inflation rate falling by 0.5 pct, after a 0.9 pct decline recorded in October 2015 and a decline of 1.0 pct in September 2016, Hellenic Statistical Authority said on Thursday.

The statistics service, in a report, attributed this development to an 1.5 pct decline in food/beverage prices, a 2.2 pct decline in clothing/footwear, an 1.5 pct fall in durable goods, an 1.1 pct fall in entertainment, an 1.0 pct fall in education prices, an 1.6 pct decline in other goods and services, while prices rose in alcohol/tobacco (1.5 pct), transport (0.4 pct), communications (0.7 pct) and hotel/restaurants (1.1 pct).

The consumer price index grew 0.4 pct in October from September, after a 0.1 pct decline recorded in the same period last year.

Greece’s harmonized inflation rate grew 0.6 pct in October, after a 0.1 pct decline in September 2016 and a decline of 0.1 pct in October 2015. On a monthly basis, the harmonized inflation rate grew 0.4 pct in October, after a 0.2 pct decline recorded in 2015.