EL.STAT.: Negative inflation for the twentieth consecutive month

EL.STAT.: Negative inflation for the twentieth consecutive month

 

By Spiros Sideris – Athens

Under conditions of negative inflation remained for twentieth consecutive month the Greek economy. It recorded a drop in October by 1.7% yoy, from 0.8% which was the drop in September.

This result helped reduce the price of heating oil by 17.9%, while an increase was recorded at 10.6% in urban transport tickets and 13.8% in airfare.

In particular, according to figures from the Greek Statistical Authority (EL.STAT.), the Index during the month of October 2014 compared with September 2014, decreased by 0.9%, compared to a decline of 0.1% recorded in the corresponding comparison of previous year.

Simultaneously, the average index of the period November 2013 – October 2014 compared to the same index of the period November 2012 – October 2013 decreased by 1.4%, against a decline of 0.4% recorded in the previous twelve months.