Greece sees 11th month of deflation
Greek inflation remained negative in January (for the 11th month running), but, over the past 12 months, prices fell more slowly than analysts had expected.
The EU-harmonised consumer price index came in at -1.4 per cent from -1.8 per cent a year earlier and following expectations of a 1.6 per cent fall.
On Saturday, the Greek government reported that its primary budget surplus was much higher than expected in 2013. Under the terms of its €240bn bailout, the country wasn’t meant to reach a surplus until 2014.
The numbers will no doubt be in focus at the Eurogroup meeting, which is in session today.