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July Generated Slower Greek Deflation

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Last month, consumer prices in Greece decreased by 0.7%, with the yearly deflation momentum lowering from a 1.1% drop in June, as confirmed by the nation's statistics agency and reported by Kathimerini.

Greece's EU-coordinated deflation ratio was confirmed at -.08% in July, compared to -1.5% in June. In a Reuters poll, economists had previously forecasted the rate would hold -1.3%.

Last November the nation's deflation rate marked its most rapid pace since monthly documentation started in 1960, and generated a 2.9% year-on-year decrease.