Greek Deflation Eases in December

Consumer prices in Greece fell in December for the 10th consecutive month though at a slower rate, Reuters reported.

Consumer prices fell 1.7% on an annual basis in December after going down 2.9% in November, the news agency said.

"The slowdown in pace in December was due to special discounts offered in the previous month. The new reading is more in line with the overall trend which is expected to continue for the next couple of quarters," the agency quoted Nikos Magginas, economist at Greece's National Bank, as saying.