Greece takes over as inflation capital of Europe as Irish figure hits 2.9%

GREECE has overtaken Ireland as the inflation capital of Europe.

A year ago Irish inflation, as calculated by European Union statistics office Eurostat stood at 4.6% compared to a low of 1.1% in Germany. The Irish inflation rate was twice the eurozone average of 2.3%.

At the end of December 2003 Irish inflation in EU terms stood at 2.9% with prices rising fastest in Greece where inflation was at 3.1% at year end.