Greek consumer price inflation picks up in July

ATHENS: Greece's annual EU-harmonised inflation rate picked up in July, statistics service ELSTAT data showed on Thursday.

The reading was 0.4pc from 0.2pc percent in June. The data showed that headline consumer price inflation was flat year-on-year from -0.3pc in the previous month.

Greece had 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 household incomes.

Deflation in the country hit its highest level in Nov. 2013 when consumer prices registered a 2.9 percent year-on-year decline. The economy emerged from deflation in June 2016.