Greece: Inflation rises in March
April 8, 2011
In March, consumer prices rebounded sharply, rising 3.3% over the previous month, after dropping 1.3% in February. The reading mainly reflects higher prices for clothing and footwear (+37.5% month-on-month) due to the end of season discounts and the arrival of the new collections. Prices for housing (+1.7% mom) and transport (+1.2% mom) also increased. Meanwhile, annual inflation stepped up to 4.5% (February: 4.4% yoy), breaking the moderating trend in place since December last year. Annual average HICP inflation (based on the harmonized index of consumer prices) was unchanged at 5.0% in March.