European Economic News

Greece CPI Falls At Slower Rate In August

Greece's consumer prices continued to decline in August, though at a slower pace than in the previous month, figures from the Hellenic Statistical Authority showed Wednesday.

The consumer price index fell 1.5 percent year-over-year in August, following a 2.2 percent stable rate of decrease seen in July. Consumer prices have been falling since March 2013.

Housing costs plunged 7.3 percent in August from a year ago and prices of clothing and footwear went down by 6.8 percent. Transport costs dipped 4.3 percent, while prices of food and non-alcoholic beverages grew by 4.3 percent.

Month-on-month, consumer prices dropped for the second straight month by 0.4 percent in August, slower than prior month's 1.3 percent fall.

The EU measure of inflation, or HICP, slid 0.4 percent annually in August after a 1.3 percent decline in the preceding month.

On a monthly basis, the harmonized index of consumer prices edged down 0.2 percent in August, following a 1.2 percent drop registered in July. It was also the second successive monthly decrease.

by RTTNews Staff Writer

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