Greek Inflation Remains Negative For 3rd Consecutive Month

Greek inflation remained negative for the third consecutive month in May, with the inflation rate at -0.4 pct, from -0.6 pct in April according to the Hellenic Statistical Authority (ELSTAT).

The statistics noted that Greek households continued facing higher prices in basic products such as meat (1.1 pct), fresh fish (1.4 pct), fresh fruit (11.1 pct) and fresh potatoes (27.6 pct).

Heating oil prices jumped 25.1 pct and electricity prices rose 12.3 pct in the month. On the other hand, fresh vegetable prices fell 6.2 pct, olive oil prices eased 1.8 pct and prices in most services continued falling - home appliances by -4.0 pct, cars -4.9 pct, telephone services -5.1 pct, books -3.9 pct, education fees -4.0 pct, house rent -6.1 pct and fuel prices -3.3 pct.

The statistics service said the consumer price index eased 0.2 pct in May, compared with April 2013.

Greece's harmonized inflation rate fell by 0.3 pct in May this year, after dropping by 0.6 pct in April and compared with a rise of 0.9 pct in May 2012. (AMNA)