Inflation inches up to 3.1%

Initial Eurostat estimates show that the Harmonized Index of Consumer Prices in Greece inched up to 3.1% in August, from 3% in July, the fifth-highest annual rate in the eurozone.

Overall, the inflation rate in the 20-member eurozone dropped to 2.2% in August, from 2.6% in July.

The rise, however small, is the second consecutive monthly one for Greece, which trails only Belgium (4.5%), Estonia (3.4%), the Netherlands (3.3%) and Slovakia (3.2%).

Structural inflation the eurozone, which excludes the volatile energy and non-processed foods prices, remained steady at 2.8% for the third consecutive month.

Service inflation in the eurozone rose to 4.2% annually, from 4% in July. Above-average gains were seen in foods, alcohol and tobacco. On the other hand, non-energy industrial goods rose 0.4% compared to 0.7% in July and energy prices dropped 3% compared to...