Greek economy deep in deflation in April‏

The statistics service, in a report, said that on a monthly basis price increases were recorded in several products of the so-called "housewife's basket", such as veal (0.6 pct), lamb (2.0 pct), fresh milk (1.5 pct), cheese (0.7 pct), fresh fruit (4.2 pct), potatoes (6.4 pct), petrol (1.5 pct) and hotel (3.6 pct), while on the other hand price declines were recorded in fresh fish (1.2 pct) and vegetables (1.3 pct). On an annual basis, price increases were recorded in fresh goat (6.3 pct), vegetables (15.2 pct), olive oil (11.1 pct), fresh fish (1.4 pct), feta cheese (2.6 pct), alcohol drinks (2.0 pct), cigarettes (2.4 pct) electricity rates (2.0 pct), transport (10.6 pct) and hotels (4.5 pct).

On the other hand, price declines were recorded in bread (1.2 pct), fresh fruit (1.8 pct), sugar (16.5 pct), clothing-footwear (2.0 pct), heating oil (24 pct), petrol (24 pct), theater (14.4 pct) and car insurance (9.0 pct). The statistic service attributed the 2.1 pct decline in the consumer price index in April to a 2.0 pct decline clothing/footwear prices, a 6.8 pct drop in housing prices, an 1.8 pct fall in durable goods, a 2.1 pct fall in health, a 4.0 pct decline in transport, an 1.8 pct fall in entertainment, a 3.1 pct fall in education, a 0.5 pct fall in hotel/restaurant/coffee prices and a 3.3 pct drop in other goods and services.

It also said that food/beverage prices rose 0.9 pct in April, along with alcohol/tobacco prices (1.9 pct). The consumer price index rose 0.5 pct in April from March 2015. The country's harmonized inflation rate was -1.8 pct in April, from -1.9 pct in March and -1.6 pct in April last year.