Friday November 6, 10:09 AM
PREVIEW-Greek Oct inflation seen rising to 1.1 pct y/y
ATHENS, Nov 6 (Reuters) - Greek consumer price inflation is
seen rising in October to an annual pace of 1.1 percent, mainly
due to higher energy prices compared to a year earlier,
economists said on Friday.
On a monthly basis, consumer
prices are seen rising 0.4
percent, according to a median forecast of five analysts
surveyed by Reuters, who cited seasonal factors, such as higher
heating oil prices.
Greece's headline CPI (NYSE: CPY - news) rate eased to a 0.7 percent annual
pace a month earlier. It fell to a 41-year low of 0.5 percent in
May and June.
'Headline inflation on an annual basis is expected to
accelerate in October on the back of rising energy prices and
the seasonal impact of heating oil prices, which enter the index
at a level higher than that of April 2009,' economist Nikos
Magginas at National Bank (NCXS.PK - news) said.
In the euro zone, consumer prices fell 0.1 percent
year-on-year in October, for a fifth straight month, but they
are expected to start growing in November (Frankfurt: A0Z24E - news) as oil costs rise
above year-earlier levels.
'The inflation differential with the rest of the euro area
is likely to shrink in coming months,' Citi economist Giada
Giani said.
Greece's statistics service (NSS) will release Oct headline
and EU-harmonised inflation data on Monday, Nov 9.
Following is a breakdown of economist forecasts:
**********************************************************
OCT NOV 2009 AVG
National Bank 1.2 1.6 1.2
Marfin Popular 1.2 1.7 1.1
Piraeus Bank 1.1 1.6 1.2
ING Financial 1.1 1.4 1.1
Citi 0.5 1.0 1.0
MEDIAN 1.1 1.6 1.1
-------------------------------------------------
(Reporting by Tatiana Fragou, Editing by Ralph Boulton)
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