Greece: Still in deflation despite price rises for basic goods

The prices of basic goods and prices in Greece have risen amid economy’s deflation rates in 2014  according to figures released by the Hellenic Statistical Authority (ELSTAT).

However, the retention of the negative signs of inflation in June 2014 remained.

Last month inflation rates were -1.1% from -2% in May 2014  and -0.4% compared to June 2013.

ELSTAT announced that within a year the prices in goods and services have risen:

  • airline tickets (29.9%)
  • medication-through increased participation of social security contributions (21.6%)
  • electricity tariffs (11.7%)
  • hotel costs (7.5%)
  •  milk and eggs (2.6%)
  •  cigarettes and tobacco products (1.4%) and,
  •  gasoline (0.8%). 

In contrast, there were price reductions on food products like:

  • fresh potatoes (30.9%)
  • fresh vegetables (17.5%)
  •  sugar (11.6%)
  •  fresh fruits (10 2%)
  •  fresh fish (2.4%)
  •  cereals and preparations (1.4%) and,
  •  meat in general (0.9%). 

Between May and June 2014 prices increased in: airline tickets (13.4%), fresh fruits (7.8%), hotel costs (4.7%), fresh fish (2.1%), olive oil (1, 4%) and petrol (0.8%).

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