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Greek consumer prices rise in December, led by alcohol, transport costs
January 11, 2017 / 10:13 AM / a year ago

Greek consumer prices rise in December, led by alcohol, transport costs

ATHENS, Jan 11 (Reuters) - Greece's annual EU-harmonised
inflation rate turned positive in December after a negative
reading in the previous month, statistics service data showed on
    The reading in December was 0.3 percent from -0.2 percent in
November. Consumer prices were led higher by alcoholic
beverages, tobacco, housing, hotels and transportation costs.
    The data also showed the headline consumer price index was
flat at zero percent year-on-year, with the annual pace of
deflation slowing sharply from -0.9 percent in November.
    For years an inflation outlier in the euro zone, Greece has
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 Greece, which signed up to its first
international bailout in 2010, hit its highest level in November
2013, when consumer prices registered a 2.9 percent year-on-year
    By contrast, inflation in the 19 countries sharing the euro
grew faster than expected in December, an estimate from the
European Union's statistics office Eurostat showed earlier this
month, driven by higher costs of energy, food and alcohol.
    Eurostat said euro zone consumer prices rose 1.1 percent
year-on-year, sharply accelerating from 0.6 percent in November.

EU-harmonised  0.3   -0.2  +0.6   -0.1  +0.4    +0.2   +0.2
CPI y/y        0.0   -0.9  -0.5   -1.0  -0.9    -1.0   -0.7
source: ELSTAT

 (Reporting by George Georgiopoulos)

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