Greece remained in deflation for 27th successive month in May
Hellenic Statistical Authority, in a report released on Wednesday, said that monthly price declines were recorded in bread/cereals (0.8 pct), pork meat (1.5 pct), lamb/goat (2.5 pct), dairy/eggs (1.0 pct), fresh vegetables (13.4 pct), fresh fruit (1.3 pct), natural gas (11.2 pct), while price increases were recorded in olive oil (1.5 pct), alcohol (1.3 pct), cigarettes (0.5 pct), pharmaceuticals (5.1 pct), petrol (2.2 pct), air transport fares (16.2 pct) and hotels (9.3 pct).
On a year-on-year basis, price declines were recorded in bread (2.2 pct), fresh fruit (4.8 pct), dairy/eggs (1.2 pct), sugar (15.1 pct), clothing/footwear (5.5 pct), house rent (3.9 pct), heating oil (24 pct), natural gas (4.4 pct), furniture (2.6 pct), petrol (7.5 pct), theater (14.4 pct) and books (2.8 pct), while price increases were recorded in fresh vegetables (13.2 pct), olive oil (12.7 pct), dried nuts (9.1 pct), fresh fish (1.1 pct), coffee (3.6 pct), cigarettes (2.9 pct), electricity rates (2.0 pct), pharmaceuticals (1.5 pct) and hotels (6.1 pct).
The statistics service said that consumer price index fell 2.0 pct in May 2014 and attributed the -2.1 pct deflation rate this May to a 5.5 pct decline in clothing/footwear, a 6.9 pct fall in housing prices, a 2.1 pct decline in durable goods, a 0.3 pct decline in health, a 2.9 pct fall in transport prices, an 1.5 pct decline in entertainment, a 3.1 pct decline in education, a 0.6 pct fall in hotel/coffee/restaurant and a 3.4 pct fall in other goods and services. On the other hand, prices rose in food/beverage (0.5 pct) and by 2.0 pct in alcohol/tobacco.
The consumer price index eased 0.8 pct in May from April, while the country's harmonized inflation rate was -1.4 pct in May, after an -1.8 pct rate in April and -2.1 pct in May 2014.
Source: anampa.gr
