Monetary economics

Editorial: Prices and wages

The COVID-19 pandemic, beyond the public health crisis that it created, disrupted the supply chain internationally.

Ports were underfunctioning for a protracted period. Workers there were suspended, contracts were not executed, and therefore international transport was rocked by the pandemic.

Consumer price index remains negative in December

Greece's annual headline consumer price inflation stayed negative for a ninth straight month in December, data from the country's statistics service ELSTAT showed on Thursday.

The reading was -2.3% year-on-year from -2.1% in November.

The data also showed EU-harmonized inflation at -2.4% from -2.1% in the previous month.

Turkey's annual inflation rate at 14.03% in November

Turkey posted a 14.03% annual hike in consumer prices in November, the country's statistical authority said on Dec. 3. 

Annual inflation rate rose 2.14 percentage points in November, up from 11.89% in October, according to the Turkish Statistical Institute (TÜİK).

The consumer price index saw a 2.30% monthly increase, it added.

Greek EU-harmonized inflation stays negative in May

Greece's annual EU-harmonised inflation stayed negative in May at -0.7% year-on-year from -0.9% in April, statistics service ELSTAT data showed on Wednesday.

The data also showed headline consumer price inflation at -1.1% from -1.4% in the previous month.

Prices were led lower by housing and transport costs, telecommunications and consumer durables, the data showed.

Greek EU-harmonized inflation turns negative in April

Greece's annual EU-harmonised inflation fell to -0.9 percent in April from 0.2 percent in March, statistics service ELSTAT data showed on Friday.

Government lockdown in response to the coronavirus has triggered a slowdown in the country's economic activity and consumer spending. Higher food prices were more than offset by lower prices in housing, transportation and communications.

Greek EU-harmonized inflation picks up to 1.1 percent in December

Greece's annual EU-harmonised inflation rate accelerated in December, statistics service ELSTAT data showed on Monday.
The reading was 1.1 percent from 0.5 percent in November. The data also showed that headline consumer price inflation picked up to 0.8 percent from 0.2 percent in the previous month.