Inflation rate rises for 10th straight month in Oct. 2017 after several years of deflation
The inflation rate in Greece posted a 10th consecutive monthly increase in October 2017, rising by 0.7 percent compared to the same month in 2016. The 10-month trend ended several years of deflation in the recession-battered country.
In October 2016, for instance, the inflation rate fell by 0.5 percent compared to October 2015.
A marginal increase of 0.1 percent was posted compared to September 2017.
Over the November 2016-October 2017 period, the median consumer price index increased by 0.9 percent compared to the November 2015-October 2016 period.
One factor cited as contributing to the rising inflation rate is an increase in the VAT rate and hikes in “sin taxes” and telecoms surcharges over the past two years.
You may be interested
How Productive is an Hour of Work (where is Greece)? (infographic)Panos - Jun 17, 2021
Figures from the OECD reveal the countries in which the average hour of work contributes the most to GDP. As…
Biden’s blunder as he confuses Putin with Trump (video)Panos - Jun 17, 2021
The American president Joe Biden’s blunder after the meeting with his Russian counterpart, Vladimir Putin, in Geneva has gone viral. It…
How the Hellenic Navy tricked a Turkish corvette trying to stop a live fire exercise (photos)Panos - Jun 17, 2021
The Turkish corvette Baykoz, which had departed from the Aksaz Turkish Navy Base opposite of Rhodes and was sailing west…