Greek HICP inflation turns positive in October

Greece’s Harmonized Index of Consumer Prices (HICP) came in positive in October after recording a negative figure in September. According to Greece’s statistics office Hellenic Statistical Authority, the annual EU-harmonized inflation of Greece rose 0.6 percent year-on-year, as compared with -0.1 percent in September. Increased prices of tobacco, transportation costs, telecoms and alcoholic beverages led to the rise in inflation in October.

Meanwhile, inflation gauged by the consumer price index fell 0.5 percent year-on-year in October, with the annual pace of deflation decelerating from -1 percent in September. The annual average pace of change in the CPI in the twelve-month period from November 2015 to October 2016 was -0.8 percent.