Last month, Hellenic consumer rates decreased by 2%, with the yearly rate of deflation advancing from a 1.3% decline in April prices, as revealed in an ELSTAT report today.

Former Greek Prime Minister George Papandreou said that while European economies have emerged from crisis, deflation and an abundance of debt remains.

The total value of Greek exports declined year on year by 9.4% in January 2014 to 3,752.5 million euros as against 4,142.6 million euros in 2013, according to statistical authority ELSTAT. The decrease, if petroleum related products are deducted from the equation, stands at 3.3%.