Greek deflation continues to bite

Deflation in Greece took a turn for the worse last month, according to data released by Greece's Hellenic Statistical Authority (HSA) today (August 7) – corroborating a report released by the central bank earlier this week showing that house prices continued to fall in the second quarter of 2015.

The HSA's Harmonised Index of Consumer Prices (HICP) fell by 1.4% in the year to July, down from 1.1% in June. The average monthly inflation rate over the past 12 months also decreased slightly to –1.6%

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