Macro roundup: Inflation slows fast

Core also turns down, but food price growth remains in double digits

Greece’s inflation rate is falling rapidly thanks to the effect of energy prices coming off the highs reached in the first half of last year.

Consumer prices in April increased 3 percent from the same month last year, when the headline inflation rate reached its high of 12.1 percent, according to data out this week from the Hellenic Statistical Authority. Crucially, core inflation — the measure central bank policy makers pay closer attention to because it strips out volatile elements — came off its March high.