Greece October PPI inflation slows to 5.0% y/y

Greek producer prices rose 5.0% year-on-year in October, easing from a 5.8% clip in September as price increases in energy costs softened, the country's statistics service said on Monday.
Greek consumer price inflation slowed to 5.2% year-on-year in October after hitting a 13-month high of 5.6% in the previous month.
"The softening in the year-on-year PPI rate is positive but underlying pressures remain high. We expect a more pronounced deceleration in domestic producer and consumer prices in the second half of 2011, on waning base effects and a negative output gap," said economist Platon Monokroussos at EFG Eurobank.