Successive months of deflation in Greece were succeeded by a second straight month of inflation in February 2017, as a “tax tsunami” imposed in 2016 — which included VAT hikes, higher fuel levies and special surcharges on everything from coffee to vaporizers to mobile phone and cable TV subscriptions — raised prices almost across-the-board.
According to the Greek statistical service (EL.STAT), inflation was up by 1.3 percent from the corresponding month of 2016. January 2017 posted a 1.2-percent hike in inflation, the first month after 46 straight months of no inflation or even deflation.
January 2017 results showing a slight uptick in prices, by 1.2 percent from the corresponding month in 2016 — the figure for January 2015 was -0.7 percent from the same month in 2015.
While preliminary figures announced this week showed that forecasts for a return to growth in Q4 2016 proved premature, rising prices were recorded for fuels, communication, tobacco products and foods and beverages, among others.
Read more here.
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations , Greek travel market, Greek tourism statistics, Greek tourism report
