Greek Inflation Rate Falls To -2.1 Pct In May
Greece moved deeper into deflation in May. Its consumer price index fell by 2.1 pct in the month compared with the same period last year, Eurostat reported on Monday.
The inflation rate in the Eurozone eased to 0.5 pct in May from 0.7 pct in April, down from 1.4 pct a year earlier. The inflation rate eased to 0.6 pct from 0.8 pct, down from 1.6 pct in May last year in the EU. In a report, the EU executive's statistics service, said that Bulgaria (-1.8 pct), Portugal (-0.3 pct) and Cyprus (-0.1 pct) recorded negative inflation rates, while Austria (1.5 pct), Luxembourg (1.4 pct) and Romania (1.3 pct) recorded the highest inflation rates in the EU.
The inflation rate fell in 16 member states, it was unchanged in four and rose in seven member states. There were no figures for the UK.