Greece Inflation Lowest In 9 Months

Greece’s consumer price inflation eased in November to reach its lowest level in nine months amid a softer rise in housing costs, figures from the Hellenic Statistical Authority showed on Friday.

Consumer prices climbed 8.5 percent year-on-year in November, slower than the 9.1 percent rise in October. Prices have been rising since May last year.

Further, this was the lowest inflation rate since February, when prices had risen 7.2 percent.

Prices of food and non-alcoholic beverages logged a double-digit annual growth of 15.0 percent. This was closely followed by a 14.5 percent rise in transport costs.

Housing costs rose 4.8 percent from last year, but well below the 11.2 percent surge in October.

On a monthly basis, consumer prices remained flat in November, following a 1.2 percent drop in the previous month.

Data showed that EU harmonized inflation also moderated to an eight-month low of 8.8 percent in November from 9.5 percent in the previous month.

Month-on-month, the harmonized index of consumer prices dropped 0.3 percent from October, when they decreased by 1.2 percent.