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Greek Deflation Dips

Greek consumer rates dipped 2.2% in February, at a year-on-year rate, while the yearly deflation rate held a 2.8% drop in January, according to the nation's statistics agency today.

The country's EU-harmonized deflation pace slowed as well; prices dropped 1.9% last month. Last year, Greece's consumer figures decreased by a 1.3% average, in comparison to 2013.

The Hellenic state has remained in a deflation stance for the last two years, due to its financial strains and wage and pension decreases. November 2013 marked the country's highest deflation record, when consumer prices recorded a 2.9% year-on-year decrease.

(Source: Reuters)