October 10, 2017 / 9:13 AM / 9 months ago

Greek consumer price inflation picks up to 1.0 pct in September

    ATHENS, Oct 10 (Reuters) - Greece's annual EU-harmonised
inflation rate accelerated in September, statistics service data
showed on Tuesday.
    The reading in September was 1.0 percent, up from 0.6
percent in August. The data also showed the headline consumer
price index picked up to 1.0 percent year-on-year from 0.9
percent in the previous month.
    Consumer prices were led higher by alcoholic beverages,
tobacco, hotels, restaurants, transportation and
telecommunications costs, the data showed.
    For years an inflation outlier in the euro zone, 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 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
decline. The economy emerged from deflation in June 2016.
    Inflation in the 19-member euro zone held steady at 1.5
percent in September, missing expectations for 1.6 percent and
trending well below the ECB's target of almost 2 percent.
EU-harmonised       1.0    0.6  0.9   0.9   1.5  1.6 
CPI y/y             1.0    0.9  1.0   1.0   1.2  1.6 
source: ELSTAT        

 (Reporting by George Georgiopoulos)
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