Greek deflation slowed in May?and that?s a bad thing

Prices are still falling in Greece, but not drastically. Data released today showed that the country's consumer price index, calculated to compare between eurozone countries, fell by 0.3% in May. In April, the CPI fell by 0.6%.By comparison, inflation in the euro area as a whole is a modest 1.4%. Generally, deflation is considered bad for an economy. But Greece is a special case. Austerity ...

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