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Greek Deflation Rises

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Last month, Greece experienced additional deflation; the consumer price index fell -2.1%, compared to last year's May, as reported by Eurostat today.

The European statistical agency released a report that recorded deflation rates by EU members. As stated by ANA-MPA, Bulgaria fell by -1.8%, Cyprus held -0.1%, Portugal experienced a -0.3% decrease. The highest inflation rate holders were Austria at 1.5%, Luxembourg at 1.4%, and Romania with 1.3%.

The Eurozone inflation rate altered to 0.5%, in comparison to 0.7% in April; last year's figure was at 1.4%. The EU inflation rate generated 0.6%, in comparison to last year's 1.6% rate. The inflation rate decreased in 16 member nations, four states remained unaltered, while seven countries experienced a rise.