Tuesday, April 9, 2013

Greece decline in the index of consumer prices in March

Greece decline in the index of consumer prices in March

The index of consumer prices in Greece fell by 0.2% in March year on year, according to data released Tuesday, 9 April by the Greek Statistical Authority (ELSTAT) - the first time since May 1968.

At the time, the second year of the junta of the colonels in Greece (1967-1974), the price index had recorded "a drop of 0.3% before beginning its ascent in June 1968 with a rate of 0 +, 5% a year, "recalls Mikhail Glenis, head of the inflation ELSTAT.

The decline in inflation in recent months in Greece is mainly due to fiscal austerity and the recession that hit the country for the sixth consecutive year.


In one year, the largest reductions were recorded in "communications" (- 5.1%) due to lower prices for telephone services and the position of "health" (- 4 6%) after the falling prices of medicines and medical services. During the same period, the position of "housing" that has increased the most (+ 8%), after raising taxes on fuel and electricity to increase government revenues in the country.

One month, prices have, however, increased 2.5% in March compared to February. The largest increases over this period were recorded under "clothing-shoes" with a jump of 33.4% due to the end of the winter sales and a return to normal prices and that of "household goods and services "(+6.5%) for the same reason, said ELSTAT. In 2013, the Greek state budget for 2013 anticipates a 0.8% inflation in the country.

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